Work on Noida Airport to Start Soon, Swiss Developer Signs Pact for Rs 29,560 Crore
Image for Representation. (Photo: Reuters)
The Noida International Airport Limited (NIAL) and Zurich Airport International AG on Wednesday signed a key agreement that would allow the Swiss developer to begin work at the site of the upcoming Jewar airport near Delhi, officials said. The 'concession agreement' for the Greenfield airport, estimated to cost Rs 29,560 crore, was inked between the UP government's agency and the Yamuna International Airport Private Limited (YIAPL), a special purpose vehicle floated by the Zurich Airport for the project, the officials said.
Yes, the concession agreement has been signed, NIAL's Nodal officer for Jewar airport Shailendra Bhatia said. The concession agreement would allow the Switzerland-headquartered company to construct and maintain the airport that is being built on the public-private partnership (PPP) model and is billed to be the biggest in India upon completion, Bhatia said.
Ahead of this, the cabinet of ministers had approved extending the signing date of the concession agreement for the Noida International Greenfield Airport in Jewar by 45 days from the commencement of international flights between Malaysia and India and Switzerland and India which included the duration of the mandatory quarantine in India or till October 15, whichever is earlier.
As per a decision taken by the Cabinet on June 5, 2018, the airport in Gautam Buddh Nagar district's Jewar will be developed in public-private partnership (PPP) mode. The state government will provide the land on which the airport is to be constructed by the developer selected after a global bidding process, according to the statement.