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Sunday, October 25, 2020

Key pact inked to allow Swiss developer to begin work on Jewar airport project

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).

By: PTI | Noida | Updated: October 7, 2020 2:57:20 pm
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.

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.

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