18% work of boundary wall at Noida international airport completed, says YIAPL

The Yamuna International Airport Private Limited (YIAPL) -- special purpose vehicle formed to develop and operate the Noida international airport in Jewar -- has completed 18% work of the boundary wall, officials said on Sunday

The Yamuna International Airport Private Limited (YIAPL) -- special purpose vehicle formed to develop and operate the Noida international airport in Jewar -- has completed 18% work of the boundary wall, officials said on Sunday.

The Uttar Pradesh government is likely to lay the foundation stone of the mega project by November-end this year. (Sunil Ghosh/HT)

The Uttar Pradesh government is likely to lay the foundation stone of the mega project by November-end this year.

The YIAPL discussed the ongoing work at the airport site and other such issues at its quarterly board meeting on November 3, 2021. The Noida international airport authority (NIAL) and Yamuna expressway industrial development authority (Yeida) chief executive officer, Arun Vir Singh, and nodal officer Shailendra Bhatia discussed the developmental work of the project and all related issues at the meeting, said the officials.

“In the board meeting, we reviewed the progress at the project site. 18% work of the boundary wall has been completed, and a site office has been built to oversee the work there,” said Singh.

Top officials of the project concessionaire -- Zurich International AG, a Swiss company -- also attended the board meeting online.

Uttar Pradesh chief minister Yogi Adityanath has directed NIAL, Yeida, and the Civil Aviation department to start preparations for the foundation laying event, which is likely to take place in the last week of November 2021, according to the officials.

“The date is not fixed, but it may take place by November-end,” said Singh.

To develop the first phase of the project, according to the YIAPL, it had arranged ₹5,730 crore from the public sector bank. The company wants to fund the project, while maintaining a debt-to-equity ratio of 65 is to 35. So, while YIAPL will pump in ₹2,005 crore, the additional ₹3,725 crore will be provided by the State Bank of India (SBI).

The YIAPL is a 100% subsidiary of Zurich Airport International AG, and has been incorporated as a special purpose vehicle (SPV) to develop the Greenfield Noida international airport. The airport is scheduled to be completed by September-end 2024.

The Uttar Pradesh government wants to lay the foundation stone this month, only as the mode code of conduct is expected to come into effect in January’s first week for the Uttar Pradesh assembly polls 2022, said the officials.