Chi bullish on win-win partnership with Uttar Pradesh
Singapore’s airport services group SATS Ltd says its multi-modal cargo logistics facility at Noida International Airport is ready for operations as the mega aviation hub in the northern state is to be inaugurated next month.
“We have already invested close to Rs.1,000 crore in building a spanking new cargo facility which is completed and ready for operations,” Bob Chi, CEO of SATS Ltd’s Gateway Services for the Asia Pacific region, said on Tuesday at the Uttar Pradesh Investment Roadshow in Singapore hosted by Uttar Pradesh Chief Minister Yogi Adityanath.
“The next phase, expected to be an additional Rs.600 crore in investment, is to develop the adjacent integrated logistics park providing seamless end-to-end airfreight services to the air cargo industry players,” said Chi.
This is SATS’ largest investment in India with Rs.4,500 crore on a 38-year concession to develop the new Uttar Pradesh airport as a global aviation hub.
“This investment will raise status of Noida International Airport into a global aviation hub,” Chi underlined.
The investment is through its joint venture company AI-SATS, a 50:50 joint venture between Air India Limited and SATS Limited, a leading gateway services and food solutions provider in Asia. It has been working in India since 2008.
Expressing confidence in the Uttar Pradesh economic progress, Chi said in a bullish tone, “We have a win-win partnership with Uttar Pradesh.”
Chi went on, “Beyond the financial investments, SATS is looking forward to play an active role in developing the airfreight logistics ecosystem to link Uttar Pradesh’s primary industries the world through our global network of 225 locations in 27 countries.”
Chi also highlighted the growth prospects of Uttar Pradesh which are driven by growing agricultural, industrial and services sectors at the roadshow attended by some 500 investors.
“So, we are indeed fully invested in Uttar Pradesh. That’s our commitment,” he underlined.
“We hope to transfer the best practises and the best technologies into our investments in more areas where projects are in the pipeline,” he said.
The Chief Minister had earlier visited SATS’ airfreight hub facilities at Changi International Airport, experiencing first-hand the operations of the facilities that handled 1.65 million tonnes of air cargo, in particular the cold-chain handling of perishables and pharmaceutical air cargo.
Adityanath led an investment delegation to Singapore on 23-24 Feb. fiinews.com
