The Yamuna International Airport Ltd (YIAPL) board cleared the proposal seeking 120 days’ time for financial closure after the State Bank of India (SBI) recently sanctioned ₹3,725 crore loan for the development of Noida International Airport in its 10th meeting chaired by chief secretary Rajendra Kumar Tiwari here on Wednesday.
The YIAPL is the special purpose vehicle (SPV) of the Zurich Airport, the company that is setting up the airport at Jewar.
A status report on the progress of the work done so far to develop the Noida International Greenfield Airport at Jewar was also presented in the meeting,
In his presentation YIAPL chief executive officer Arun Veer Singh said the SBI had sanctioned a loan of ₹3,725 crore to the developer, the Zurich Airport’s SPV. He said the company needed 120 days’ time for financial close and the board cleared this proposal.
The CEO also said in the meeting the developer had prepared a revised master plan for the airport. The CEO said the revised master plan would be sent to the civil aviation ministry and other agencies for approval.