The Government of Uttar Pradesh headed by Chief Minister Yogi Adityanath, has given the right of land to Zurich Airport International at Jewar. So, construction of Noida Airport can begin very soon.
The final leg of the formal handover of Jewar airport land from NIAL (Noida International Airport Limited) to YIAPL (Yamuna International Airport Private Limited) has been signed on Saturday- 31st July, 2021.
The agreement has been signed in the presence of the chief minister Yogi Adityanath in Lucknow.
Final land possesion
With the physical possession of the land with YIPAL, which is the SPV (special purpose vehicle) of concessionaire Zurich AG, the process of physical possession of the land is finally completed.
This will subsequently clear the deck for construction work to start, which will include the initial fencing of the area, the placement of signboards, etc.
“The signatories on Saturday included CEO’s from both sides and other senior government officials. Zurich AG has formed an SPV with YIAPL for the development of the airport. Post signing of the agreement today, all formalities regarding the airport are made complete,” said Arun Vir Singh CEO YEIDA (Yamuna Expressway Industrial Development Authority).
While YIAPL will hold the licence charge of the airport for 40 years, “a fixed payment per passenger pax will entail between YIAPL and the state government. There will be no revenue sharing,” adds Singh.
Even as 1,334 hectares of land was acquired for the first phase of Jewar airport by the district administration for the state civil aviation department.
And, also (which will further include additional 16 hectares), construction work is expected to commence soon.
Commencement of work to begin very soon
“Work will commence after laying of the foundation stone,” said Singh. Nearly 3,000 affected families of the airport land have been compensated and relocated at Jewar Banger, out of which about 2,000 families are currently constructing their houses.
The authority is nearing the completion of development work in the Jewar Bangar area with regard to the rehabilitation of the families.
Zurich airport-NIAL sign shareholder agreement for development of Noida airport. The Noida International Airport is being built in Jewar, about 70 km from the main Delhi region.
The Zurich Airport International on Saturday signed a shareholder agreement with the Uttar Pradesh government’s entity NIAL in Lucknow for the development of the Noida International Airport, a statement said.
The previous announcement
Arun Vir Singh, CEO, Noida International Airport Limited (NIAL), and Christoph Schnellmann, CEO, Yamuna International Airport Pvt Ltd (YIAPL) held up. • They, signed the agreement in the presence Uttar Pradesh Chief Minister Yogi Adityanath and senior officials of the UP government, the Zurich Airport International’s statement said.
YIAPL is a 100 per cent subsidiary of Zurich Airport International. It has been incorporated to develop the Noida International Airport in Jewar, which is around 70 km from the main Delhi region.
According to the agreement, NIAL will hold one golden share in YIAPL and the right to nominate two directors to the board.
Directors of the firm
“The directors to be added to the board will be Arun Vir Singh, CEO NIAL, and Vishak Iyer, Director, Civil Aviation, Government of Uttar Pradesh,” it added.
The shareholder agreement also underpins the UP government’s support to:
- Establish and continuously improve surface access to the airport
- Establish and expand utilities required to run the airport (water, electricity, waste water)
- Maintain law and order
- Including monitoring at the airport
- Also, grant the necessary clearances to build and operate the airport.
Chief Minister- Yogi Adityanath
The signing of the shareholder agreement is the next step in the direction of progress for the state. The Noida International Airport will be the benchmark for a modern, world-class airport in India, a statement quoted Adityanath as saying.
“It will accelerate the development of industrial infrastructure, boost tourism, promote exports, ease air traffic and lead to creation of more jobs in the state. It will generate multi-dimensional progress, leading to economic development in Uttar Pradesh,” he added.
State Bank of India
Last month, the YIAPL had announced that it has secured a loan of ₹3,725 crore from the State Bank of India for the development of Noida international Airport.
When it won the bid on November 29, 2019 to build and operate the Noida airport. The Zurich Airport International had said-
- The airport will be able to handle 12 million passengers per year after the first phase of construction.
Officials of the Uttar Pradesh government and the Swiss company had signed a concession agreement. This was done on October 7, 2020 to begin the construction of the Noida airport, estimated to cost ₹29,560 crore.
In December 2020, it had submitted the master plan for the first phase of construction to the UP government and selected a four-company consortium to design the passenger terminal for the greenfield airport in Jewar.
Zurich International Airport wins bid
The Zurich Airport International had outbid Delhi International Airport Limited (DIAL), Adani Enterprises and Anchorage Infrastructure Investments Holdings Limited to win the 40-year concession for the Noida airport in November 2019.
The Zurich Airport International is itself a 100 per cent subsidiary of Flughafen Zurich AG, a listed company that operates the Zurich airport.
The CEO of ZAIA
Zurich Airport International AG (ZAIA) CEO Daniel Bircher said-
“We are pleased to sign the shareholder agreement, which strengthens the partnership between ZAIA and NIAL. The Noida International Airport will be an engine of economic growth for India and Uttar Pradesh, stimulating residential and industrial activities in the catchment area as well as the development of cargo and logistics cluster in the NCR region.”
“This agreement reaffirms UP government’s commitment to provide road and rail connectivity along with other various utilities and to ensure safety and security for the upcoming Noida International Airport,” he said.
Information Source: The Times of India and The Hindustan Times
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