Noida: UK delegation plans to invest Rs5,000 crore near Jewar airport site
A two-member delegation from the trade and investment wing of the British High Commission in New Delhi on Thursday met Arun Vir Singh, chief executive officer of the Yamuna Expressway Industrial Development Authority (YEIDA) and discussed investment opportunities.
Many investors from the United Kingdom (UK) are exploring investment opportunities along the Yamuna Expressway, near the proposed Noida international airport in Jewar.
A two-member delegation from the trade and investment wing of the British High Commission in New Delhi on Thursday met Arun Vir Singh, chief executive officer of the Yamuna Expressway Industrial Development Authority (YEIDA) and discussed investment opportunities.
One of the representatives of the commission confirmed Thursday’s meeting with the senior officials of YEIDA.
“Many private companies from the UK dealing with infrastructure, planning, city master plans and consulting services are exploring opportunities near the airport project along the Yamuna Expressway. It is at a very early stage as we met the Yamuna Expressway CEO for the first time. Let’s see how things move forward. These companies are of international reputation and doing business globally. Some are even experts in airport projects, “ said Mukul Verma, senior trade and investment adviser, British High Commission.
The British High Commission’s trade and investment wing also wants to become a consultant with the Yamuna authority in conducting and preparing a project report.
The Union civil aviation ministry had on June 24 this given its approval to build an international airport at Jewar. The YEIDA wants to conduct a technical feasibility report (TFR) for further progress of this project. The authority is currently selecting a private consultant for work in this regard.
“Trade and investment wing is the UK government’s agency that works for development projects. They want to apply for the project. I advised them to submit proposals when we call for expression of interest. We want to select an agency and if the committee finds this to be fit, it can work with us on the project,” Arun Vir Singh, chief executive officer of YEIDA, said.
Apart from being the consultant, the trade and investment wing also comprises investors from the UK who are interested in buying land along the Yamuna Expressway.
“Trade and investment wing also helps investors in the UK to conduct business. In this regard, they apprised us that some investors want to invest Rs5000 crore and buy 500 acres of land near the airport and we have welcomed them. The investors’ delegation is expected to visit the Yamuna Expressway next month. We hope their investment will create jobs in this area,” Singh said.
Now, YEIDA has sought Rs2,000 crore from the state government to acquire 1,000 hectares of agricultural land for the first phase of the project. On the whole, the project requires 5,000 hectares.