Air India SATS Airport Services, the 50:50 joint venture company (JVCo) between SATS S58 and Air India, has entered into concession agreements with Yamuna International Airport Private Limited on May 30.
The JVCo was selected to build a multi-modal cargo hub at the upcoming Noida International Airport in Jewar, Uttar Pradesh, in India, on Feb 13.
The Noida International Airport and the cargo hub are expected to commence operations by the end of 2024.
The cargo hub will be financed through a mix of internal cash resources and external bank borrowings.
Shares in SATS closed at $2.63 on May 30.
