Hyderabad airport gets its first client for free trade zone

GMR Hyderabad International Airport Limited (GHIAL) has signed an agreement with Turbo Jet Engines (Hyd) Private Limited, its first client for airport-based Free Trade Zone (FTZ) at Rajiv Gandhi International Airport (RGIA) here.

According to the agreement, Turbo, in technical partnership with an established foreign partner, will set up repair, testing and calibration facilities for various aircraft components such as life rafts, wheels and brakes, oxygen cylinders, fire bottles, actuators and avionics equipment.

The operations would also encompass repair and calibration of aircraft parts wherein original equipment manufacturers (OEM)/airlines can send equipment from any part of the world to Turbo’s facility at the FTZ. This facility will derive synergies from the aircraft MRO set-up located at the airport, besides supporting air cargo stakeholders such as airlines and logistics players, thus creating a multiplier effect and an integrated ecosystem.

“The Free Trade Zone at Rajiv Gandhi International Airport is envisioned to fuel the growth of a strong airport-driven economy and provide compelling value proposition to players across the industry value chain by offering modern and integrated ecosystem that will bring down transportation costs and reduce the turnaround time for movement of goods. The FTZ will also provide facilities for servicing, distribution, trading, warehousing of goods and other value additions,” GHIAL chief executive officer, SGK Kishore, stated in a press release on Monday.

This development, according to GHIAL, will complement air cargo growth and boost product diversification at RGIA and is a part of its strategy to make RGIA as ‘The Logistics Hub of India’.