AISATS, an Air India joint venture, and Yamuna International Airport Pvt Ltd announced on Wednesday the signing of a concessionaire agreement for a multi-modal cargo hub at the upcoming Noida international airport. Air India SATS Airport Services Private Limited (AISATS) will design, build, finance, and operate the cargo hub, which will be built on 87 acres of land and will provide quick, convenient, and intermodal connectivity to and from manufacturing hubs across the country.

According to a press release, AISATS aims to provide India's logistics sector with a cargo processing and transportation grid that will significantly reduce logistics costs, streamline processes for seamless coordination, and bring speed and transparency to the country's supply chain.

"The AISATS cargo hub in Noida will play an important role in providing just-in-time cargo facilities for the north India region, as well as in levelling up the Indian logistics and air cargo sectors with infrastructure, value-added services, and improved cost efficiency," said AISATS Chairman Nipun Aggarwal.

This first-of-its-kind cargo hub's strategic location will seamlessly connect multiple modes of transportation with consolidated ancillary and value-added services, AISATS said, establishing a highly efficient route for cargo throughput across India and abroad.

"India is one of the world's fastest-growing economies, with enormous growth potential in the air cargo logistics space." "Our AISATS joint venture with Tata Group's Air India will help develop the region into a strategic air cargo and export hub," said Bob Chi, CEO of SATS Gateway Services.

"Such a development also accelerates the expansion of our global air cargo hub handling capabilities as part of SATS' twin-engine growth strategy," he continued.