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Noida International Airport awards 30-year concession to Indian Oil Skytanking Ltd for setting up the fuel farm and hydrant system



Posted On : 2021-12-07 20:21:46( TIMEZONE : IST )

Noida International Airport has awarded Indian Oil Skytanking Ltd (IOSL) a 30-year concession to design, build, and operate fuel infrastructure, including multi-user fuel farm and hydrant system for the airport. This partnership will help NIA provide aviation turbine fuel cost-efficiently and under an open access model to its airline partners.

Under this agreement, IOSL will build facilities which will include 10,000 m3 of fuel-storage tanks with an inbuilt flexibility to increase the capacity rapidly as per air traffic demand and supported by an underground hydrant system connecting all aircraft stands, remote and contact, with fuel pipelines, thereby enhancing safety of the airside. Keeping to Noida International Airport's promise of building an environmentally conscious airport ecosystem and India's first truly digital airport, IOSL will be able to accommodate sustainable aviation fuel (SAF) and manage movements via a digital command and control centre.

Mr. Christoph Schnellmann, Chief Executive Officer, Yamuna International Airport Private Limited said, "We are pleased to partner with Indian Oil Skytanking Ltd (IOSL) for these key airport facilities. Owing to the strong technical proposal and best-in-class operating plan, the fuel farm will enable us to provide cost-effective jet fuel to our partner airlines. Our vision is to provide quick, efficient processes and best value to passengers, airlines, and shippers. In line with our focus on sustainable operations, the fuel farm will provide for sustainable aviation fuel. We are committed to be India's leading airport in terms of customer service, efficiency, digital services and minimal impact to the environment."

Mr. T S Dupare, Chief Executive Officer, Indian Oil Skytanking Ltd said, "We at Indian Oil Skytanking are excited to partner with Noida International Airport, one of the most awaited airports in India. The scope of this partnership will involve the development of modern aviation fuel infrastructure, comprising of a multi-user fuel farm and hydrant system. This proposed development of fuel infrastructure, which will be purpose built for NIA, will enhance the value proposition of the airport, and will cater to the needs of all Stakeholders. We will extend our complete support & cooperation to NIA in its vision to serve as a sustainable airport, which is the need of the hour for the whole aviation industry. We are now awaiting speedy construction of the airport which will be a benchmark for a digital, sustainable and state-of-the-art-airport for the whole country."

Shares of Indian Oil Corporation Limited was last trading in BSE at Rs. 120.55 as compared to the previous close of Rs. 120.95. The total number of shares traded during the day was 1789670 in over 18702 trades.

The stock hit an intraday high of Rs. 123.30 and intraday low of 120.25. The net turnover during the day was Rs. 218068807.00.

Source : Equity Bulls

Keywords

IndianOilCorporationLimited INE242A01010 IndianOilSkytanking HydrantSystem NoidaInternationalAirport