Istanbul: Celebi Holding, the Turkey-based ground handling and cargo services provider, is planning to invest $80-100 million in the next 18 months in India.
The firm is eying a 50% year-on-year growth in revenue from ground handling operations in India while in the cargo business it hopes to maintain its existing revenues this year.
“We will be doing an investment of around $40-50 million on the cargo side. On the ground handling side it will depend on the size of the services that we are going to provide. That investment can be between $20 million and $30 million,” Can Celebioglu, chairman of Celebi Holding told DNA.
Amber Dubey, director-KPMG Advisory, sees the investment as an excellent move on the cargo handling side. “There is a huge potential for cargo handling in India. Some of the airports in the world handle much more than what India together handles. On the ground handling there is some amount of uncertainty due the current issues. But a solution could still be worked out,” he said.
13/05/11 Neelasri Barman/Daily News & Analysis
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