The Noida International Airport Limited and the Yamuna Expressway industrial development authority on Tuesday said they hoped that the airport concessionaire, Zurich Airport International AG, and special purpose vehicle, the Yamuna International Airport Private Limited, would sign the concessionaire agreement before October 15, if restrictions on air travel in the wake of Covid-19 pandemic are relaxed by that time.
On May 19 this year, Zurich International had got requisite security clearance from the ministry of home affairs, paving way for the singing of the concessionaire agreement.
The agreement was supposed to be signed by July 2, according to the earlier schedule. Later on June 10, the UP government postponed the agreement signing date to August 17 in view of the Covid-19 pandemic.
“They (Zurich) have been given time till October 15 for signing of the agreement in view of Covid-19 pandemic restrictions on air travel. Currently, there are no international flights between Zurich and India and that’s why travel is not possible. Once international flights start, they will travel to sign the agreement,” said Arun Vir Singh, chief executive officer of NIAL and YEIDA.
Zurich International and Yamuna International Airport private limited had on January 30 applied for security clearance to the ministry of home affairs. Zurich AG cannot start work at the Jewar airport site before the agreement is signed.
{{/usCountry}}Zurich International and Yamuna International Airport private limited had on January 30 applied for security clearance to the ministry of home affairs. Zurich AG cannot start work at the Jewar airport site before the agreement is signed.
{{/usCountry}}The Gautam Budh Nagar administration had acquired 1,334 hectares under phase 1 out of the total 5,000 hectares required for the airport project that has a budget of Rs 30,000 crore, paving way for the construction to begin at the site. But work is being delayed at the site due to the pandemic, officials said.
On November 29, 2019, 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 in Uttar Pradesh.
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 is expected to be completed in 2023.