Celebi Holdings, a Turkish firm, will invest $100m in ground handling and equipment at Delhi and Mumbai airports in India by 2015.
Celebi Holdings has already spent $35m on construction and $12m towards purchase of equipment and security upgrades at the Delhi International Airport's (DIAL) 70,000m² cargo facility, which is expected to be completed by early next year.
The firm also has a holding fee of $25m deposited with DIAL.
Celebi's Delhi cargo terminal licence includes developing, modernising, financing and operating the existing terminal for 25 years and ground handling includes ramp services, baggage handling, aircraft cleaning, fuel liaison, operation services and supervision.
The company's joint venture in Mumbai, CelebiNAS, serves 16 carriers, of which only one - Kingfisher Airlines - is a domestic carrier. The venture has a market share of 30% at Mumbai's Chhatrapati Shivaji International Airport.
In the past 18 months, CelebiNAS has reached a ground handling services capacity of 17,000 domestic passengers, 1,000 domestic cargo flights, 7,100 international flights and 6,000 general aviation flights.
With Mumbai's second airport at Navi Mumbai now announced, Celebi expects to participate there as well, as cargo operations may move to the greenfield airport once it is ready in the stipulated three-and-a-half years.
Celebi says it will serve about half of all international flight traffic moving in and out of Delhi and Mumbai, and is looking at opportunities to enter an airport in the south, according to IANS.