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Jewar airport: Zurich International to sign concession agreement in second week of October

PUBLISHED ON SEP 29, 2020 12:00 AM IST

GREATER NOIDA: Zurich Airport International AG, the concessionaire selected for developing the international airport at Jewar, and the special purpose vehicle (SPV) Yamuna International Airport Private Limited are set to sign a concession agreement in the second week of October, officials from the Noida International Airport Limited (NIAL) said on Monday.

According to the officials, the signing of concession agreement holds importance as Zurich Airport International cannot start work at the airport site without it.

“The concession agreement with the Switzerland company Zurich AG will be signed in the second week of October. The company officials were waiting for the removal of ban imposed on international flights in the wake of Covid-19 pandemic. International flights are likely to resume operations from October 1. Therefore, the agreement will be signed before October 15 for sure, and date will be finalised once the flight tickets for Zurich top officials are booked,” said Arun Vir Singh, chief executive officer, NIAL, a nodal agency to monitor the airport project.

On May 19 this year, Zurich International had got 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 pandemic. On August 14, Zurich International was given time till October 15 for agreement signing in view of restrictions on air travel.

“We have informed the UP government that the agreement will be signed in the second week of October and the necessary process is being completed in advance. The agreement will be signed in the Yamuna Expressway Industrial Development Authority’s sector Omega-1 office,” said Singh.

The SPV was formed in January this year for the development and the operations of the Noida International Greenfield Airport at Jewar. It has directors from the UP civil aviation department, NIAL and Zurich International.

“Once the agreement is signed, Zurich will start work at the site in the next six months as it needs time to mobilize the workforce and also rope in required agencies,” said Singh.

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.

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