Noida: Yamuna authority seeks Rs 3,000 crore loan for Jewar airport project
The Yamuna authority has also started the process of selecting a consultant to prepare a techno-feasibility report. The techno-feasibility report comprises a survey of land, impact on ecology and technical issues related to the project.Updated: Aug 28, 2017 22:32 IST
The Yamuna Expressway Industrial Development Authority (YEIDA), the nodal agency for the Noida international airport project in Jewar, along the 165km Yamuna Expressway, has started the process of arranging funds for the ambitious project.
To begin with, the authority has decided to arrange Rs 3,000 crore from the Central government agencies — national capital region planning board (NCRPB) and the Housing and Urban Development Corporation Limited (HUDCO).
The NCR planning board, which works under the Union ministry of urban development, has the mandate to assist and support mega infrastructure projects in the national capital region.
HUDCO, which is under the administrative control of the Ministry of housing and urban poverty alleviation, works in the housing and urban development fields.
The Union civil aviation ministry on June 24 had given its approval to build an international airport in Jewar. Now, YEIDA needs Rs 2,000 crore to Rs 3,000 crore from the state government to acquire 1,000 hectares of agricultural land in the first phase of the project.
On the whole, the project requires 5,000 hectares. The UP government has allowed the Yamuna Expressway authority to obtain a loan for the project.
“As per the procedure, the Yamuna authority will acquire the land for the airport project on behalf of the UP government that will own the land. Therefore, the UP government has to obtain the loan of Rs 3,000 crore to start the land acquisition. We will meet NCRPB and HUDCO officials for a loan within the next two days,” said Arun Vir Singh, chief executive officer, YEIDA.
The UP government will obtain the loan from any of the two agencies.
“I have sought an appointment from NCRPB and HUDCO officials to know about their terms and conditions for loan and also the rate of interest. Whichever agency provides the cheaper loan, we will finalise the same. But the final decision will be taken by the UP government as we will only provide them the details of the rate of interest, etc.,” Singh said.
The Yamuna authority has also started the process of selecting a consultant to prepare a techno-feasibility report. The techno-feasibility report comprises a survey of land, impact on ecology and technical issues related to the project.
“We hope to finalise the agency in the next one month so that work can begin on the ground,” Singh said.
First Published: Aug 28, 2017 22:32 IST