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Author:siddhant vijay
professional real estate advisor at Nagpur, Maharashtra.
professional real estate advisor at Nagpur, Maharashtra.
Topworth’s air cargo biz hub in Nagpur soon
Nagpurians have a reason to cheer. Adding
new dimension to the development saga, Mumbai-based Topworth Group of Companies has announced
setting up of an air cargo business hub here by early next year.
The company is set to foray into air cargo business in association with a US firm with an investment of $100 million. After getting the NOC from the aviation ministry, Topworth Group of Companies along with Avicore LLC has formed a joint venture — Avicore Aviation — and expects to record a revenue of Rs 500 crore in the first year of operation.
“We propose to start by March next year with two leased aircraft and Nagpur as hub,” Topworth chairman Abhay Lodha said. TNN
Avicore to begin with 2 leased Boeing 737s
Nagpur: Avicore LLC is promoted by three NRIs and invests mainly in the aviation sector. Abhay Lodha said the joint venture, in which Topworth Group has 51% stake, has initiated talks with a couple of airlines for having two Boeing 737s on lease and hoped that these will be available by February-March next year.
Avicore Aviation will cater to the domestic needs initially and has plans to fly overseas by December next year.
The company also plans to have three more Boeing 737s on lease by July next year, Lodha said.
“There is great scope for air cargo business in the country and the need for dedicated cargo airline is increasing each passing day with the boom particularly in the retail sector. Since the number of service providers is limited, we will be able to cash in on escalating demand,” he said. Siddhant Grace Realities(I) Pvt. Ltd. Nagpur +91 9881277889
The company is set to foray into air cargo business in association with a US firm with an investment of $100 million. After getting the NOC from the aviation ministry, Topworth Group of Companies along with Avicore LLC has formed a joint venture — Avicore Aviation — and expects to record a revenue of Rs 500 crore in the first year of operation.
“We propose to start by March next year with two leased aircraft and Nagpur as hub,” Topworth chairman Abhay Lodha said. TNN
Avicore to begin with 2 leased Boeing 737s
Nagpur: Avicore LLC is promoted by three NRIs and invests mainly in the aviation sector. Abhay Lodha said the joint venture, in which Topworth Group has 51% stake, has initiated talks with a couple of airlines for having two Boeing 737s on lease and hoped that these will be available by February-March next year.
Avicore Aviation will cater to the domestic needs initially and has plans to fly overseas by December next year.
The company also plans to have three more Boeing 737s on lease by July next year, Lodha said.
“There is great scope for air cargo business in the country and the need for dedicated cargo airline is increasing each passing day with the boom particularly in the retail sector. Since the number of service providers is limited, we will be able to cash in on escalating demand,” he said. Siddhant Grace Realities(I) Pvt. Ltd. Nagpur +91 9881277889
Comment 1: By Anisha Das on 24th Jun 2008
Good news for the people and the industrialist of
Nagpur. This will definitely boost business their
as well as provide employment opportunities to the
people their.
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