The Zurich Airport International agreement with Uttar Pradesh Government’s entity Noida International Airport Limited has commenced its development work from today (01/10/2021).
Noida International Airport Limited (NIAL) has provided the license for forty years to Zurich Airport International for the development of Noida International Airport.
It is expected that the flights from Noida International Airport will start on September 30, 2024.
Work on boundary wall around Noida International Airport project has started
Preparatory work of leveling the land for the construction of boundary wall around Noida international airport has begun on Monday,23 August 2021.
In the first phase, the Uttar Pradesh government handed over 1334 hectares of land to Yamuna International Airport private Limited for the construction of the airport.
CEO of Yamuna Authority Dr. Arunveer Singh has told that the date of laying the foundation stone will be announced soon.
Yamuna International Airport Private Limited secures the financing of Rs.3,725 Crore from the State Bank of India for the development of the upcoming Noida International Airport.
The loan will be repaid over twenty years with one-year moratorium post completion of the project.
It is a crucial step towards the development of the upcoming Noida International Airport.
Such amount of funding in Greenfield airport validates the viability of this project and creates a path to initiate the construction work shortly.
Honorable Prime Minister Narendra Modi is likely to lay the foundation stone of Noida International Airport next month between 16-30 August.
Chief Minister of Uttar Pradesh Yogi Adityanath sanctioned the handing over of 1334 hectares of land to Noida International Airport Limited under a ninety years land lease agreement in a virtual ceremony on July 17, 2021.
A shareholder agreement was also signed among Yamuna International Airport Private Limited, Zurich Airport International AG, and Noida International Airport Limited.
Yamuna International Airport Private Limited, the 100% subsidiary of concessionaire Zurich Airport International while Noida International Airport Limited has bees set up to coordinate between state government departments as part of project execution.
Noida Greenfield International Airport is proposed to be developed near Jewar Town, located in the district of Gautam Buddha Nagar, Uttar Pradesh.
The Yamuna Expressway Industrial Development Authority will manage the implementation process on behalf of the Government of Uttar Pradesh.
The state government of Uttar Pradesh has also constituted a nodal agency Noida International Airport Limited (NIAL) for monitoring the airport development.
Noida Greenfield International Airport will be developed by Swiss developer Zurich International Airport AG.
The location of the airport is selected to serve the need of a large population living in the National capital region. Noida International Greenfield Airport is 36 km away from Bulandshahr, 70 Km from Noida, 60 Km from Ghaziabad, 65 Km from Aligargh and Gurgaon. The location of Yamuna Expressway will connect all the national and international tourists to the city Taj Mahal, Agra, the birthplace of Lord Krishna, Mathura, and the temple of Bankey Bihari Vrindavan.
Noida Greenfield International Airport will be one of the largest airports comprising six runways spreading over 5,000 hectares. Noida Greenfield International Airport will be developed through Public-Private Partnership Model in four phases.
In the first phase, two runways will be developed with the capacity of handling 70 million passengers per annum.
Noida Greenfield International Airport is proposed to be connected to Noida Metro via the Greater Noida route and the Delhi Metro via the Faridabad-Ballabhgarh-Palwal-Jewar route.
Noida Greenfield International Airport will benefit the real estate sector of Noida & Greater Noida enormously, especially when the real estate has hit due to the pandemic and economic slowdown over the years. The development of infrastructure in the form of a new airport will revive the key areas here.