New Delhi : Chief Minister Yogi Adityanath’s efforts to make Uttar Pradesh a one trillion-dollar economy have received a significant boost with AISATS Noida Cargo Terminal Private Limited, a joint venture of Air India and SATS, and its Special Purpose Vehicle (SPV) organising Bhoomi Pujan ceremony for its cutting-edge multi-modal cargo hub at Noida International Airport in Jewar.
This state-of-the-art multi-modal cargo hub, blending tradition and modernity, promises to provide smart, seamless, scalable and secure solutions to the Indian air cargo and logistics supply chain sector.
It is noteworthy that the Integrated Cargo Terminal and Logistics Park being built at Noida International Airport is the dream project of CM Yogi. It will not only connect UP with the entire country, but also play an important role in linking ASEAN countries and the proposed India-UAE Europe Economic Corridor.
The company had signed two MoUs worth Rs 5,000 crore with the state government at the Global Investors Summit held in February this year, including one for an integrated cargo liner and the other for building a logistics park. In a significant step forward, the company has completed the Bhoomi Pujan for its air cargo project.
In the first phase, the company will invest a total of Rs 1200 crore, out of which Rs 456 crore has been invested so far by the company. The company is aiming to complete this multi-modal cargo hub in time for the opening of Noida International Airport. The multi-modal cargo hub is likely to be inaugurated along with the inauguration of Noida International Airport in 2024. Top officials from AISATS, YIAPL and Tata Projects participated in the Bhoomi Pujan.
Based on the information received, this multi-model cargo terminal is currently under construction on 37 acres. Notably, this cargo terminal surpasses any previously constructed terminals in terms of size and capacity. Through this, the exports of the entire UP will increase manifold.
Furthermore, it will facilitate seamless connectivity between the UP’s Agro market, ODOP, and MSME markets with the global market. This development will enable people from outside the region to conveniently place orders for goods. Moreover, the ASEAN countries will benefit from this and they will also be able to import products from the UP market through air cargo.
In addition, the construction of the economic corridor linking India, UAE, and Europe will deliver substantial benefits. This corridor will play a pivotal role in facilitating Uttar Pradesh’s connectivity with both the UAE and Europe. The cargo terminal will function as a catalyst for Uttar Pradesh’s growth, significantly transforming the state’s status from being landlocked to experiencing multifaceted development. Its positive impact will extend to neighbouring regions including North India, East India and East Asia.