New Delhi: The Noida International Airport Limited (NIAL) and Zurich Airport International AG on Wednesday (October 7) signed a key agreement to allow the Swiss developer to begin work at the site of the upcoming Jewar airport.
The ‘concession agreement’ for the Greenfield airport, estimated to cost Rs 29,560 crore, was inked between the Uttar Pradesh government’s agency and the Yamuna International Airport Private Limited (YIAPL), a special purpose vehicle floated by the Zurich Airport for the project.
The agreement was signed by Dr Arun Vir Singh, CEO, Noida International Airport Limited (NIAL), and Christoph Schnellmann, Chief Executive Officer, Noida International Airport.
Noida International Airport or Jewar Airport will be developed on the public-private partnership (PPP) model.
The International Airport, which is scheduled to open in 2024, will merge Indian culture and hospitality with Swiss technology and efficiency to develop this airport.
Jewar Airport will operate as a fully digital airport, providing a safe and contactless travel experience and customized commercial offerings to passengers.
The Airport will be the first net-zero emissions airport in its class, setting a new standard for sustainable aviation.
Construction of Noida International Airport will support economic growth through job creation in the state, also a preferred destination for domestic as well as global investors in the upcoming years.
Daniel Bircher, Chief Executive Officer, Zurich Airport International (Asia) said, “When phase 1 development is completed in 2024, we will provide capacity for 12m passengers per year.”
Dr Arun Vir Singh, Chief Executive Officer, Noida International Airport Limited (NIAL) said, “World-class airport will not only connect the western UP region with other domestic and international destinations but also provide additional capacity to Delhi NCR region.”
In November last year, Zurich Airport International AG (ZAIA) won the contract to build and operate the airport in Greater Noida for a period of 40 years.
The ZAIA received the security clearance from the Union Ministry of Home Affairs to develop the Noida International Airport at Jewar in May this year.