Zurich Airport International AG, the bidder selected for developing the greenfield international airport at Jewar near Noida in Uttar Pradesg, and the special purpose vehicle (SPV) Yamuna International Airport Private Limited are set to sign a concession agreement on October 7, Financial Express reported quoting officials from Civil Aviation Ministry.
The agreement will be signed by the CEO of Zurich Airport International and the CEO of Noida International Airport Limited (NIAL), Arun Vir Singh.
On May 19 this year, Zurich International obtained the requisite security clearance from the Union ministry of home affairs, paving way for singing of concession agreement. The agreement was supposed to be signed by July 2 as per the earlier schedule. But on June 10, the Uttar Pradesh government postponed the agreement signing date to August 17 in view of the travel disruptions due to pandemic. On August 14, Zurich International was given time till October 15 for agreement signing in view of restrictions on air travel.
Once the agreement is signed, Zurich Airport International AG will commence work at the site in the next six months after mobilize the workforce and also rope in required agencies
The Gautam Budh Nagar administration has acquired 1,334 hectares of land under phase 1 out of the total 5,000 hectares required for the airport project.
In November last year, Zurich Airport International AG, the owner of Switzerland’s biggest airport, had emerged as the top bidder to design, build and develop a new airport in Jewar along the 165-kilometre Yamuna expressway. To be spread over 5,000 hectares, once completed, it will be the biggest airport in India with eight runways and will cater to 70 million passengers a year by 2040-50. The first phase will be completed in 2023.