Deals12 Sept 2024, 07:36 pm
Caspian's Subsidiary Wins 10-Year Ground Handling Services Contract at Andaman Airport Worth INR 3 Cr
AI Summary
Caspian Corporate Services Ltd announced that its step-down subsidiary, Sumathi Bright Shine Airport Services Private Limited, has initiated work for a 10-year ground handling services contract from the Airport Authority of India (AAI) at Andaman Airport. The contract is valued at approximately INR 3.00 Cr for the first year, with expectations of growth as travel and tourism in Andaman increase.
Key Highlights
- Caspian's subsidiary, Sumathi Bright Shine Airport Services Private Limited, has secured a 10-year ground handling services contract from the Airport Authority of India (AAI) for Andaman Airport.
- The contract is valued at approximately INR 3.00 Cr for the first year, with potential growth as travel and tourism in Andaman increase.
- The contract initiation has already taken place.
- The Airport Authority of India is the entity awarding the contract.
- The contract is a domestic one, and no related party transactions are involved.