FedEx to invest USD 150 mn for air cargo hub at Delhi airport

New Delhi | Federal Express Corporation (FedEx) plans to invest USD 150 million (around Rs 1,430 crore) to develop an air cargo hub spread across 2,30,000 square feet at the Delhi airport.

The groundbreaking ceremony for the facility was held in the national capital on Tuesday in the presence of Civil Aviation Minister K Rammohan Naidu, who said India should be the backbone for air cargo movements.