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Jewar airport News: Yamuna airport body signs agreement with Zurich enterprise in Greater Noida.

The Yamuna International Airport Private Limited (YIAPL) on Wednesday signed a concession agreement with Zurich Airport International AG to allow the latter to start work for the development of an international airport at Jewar, around 100km from Delhi in the National Capital Region.

The signing was delayed as the Swiss company’s officials could not travel to India for it in view of the ban on international flights because of the Covid-19 pandemic.

The Centre on May 19 granted Zurich Airport International AG the security clearance for the singing of the 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 Airport International AG was given time till October 15 for the signing in view of restrictions on air travel.

YIAPL was formed as a special purpose vehicle in January this year for the development and the operations of the Noida International Greenfield Airport at Jewar.

Authorities have acquired 1,334 hectares of land under phase 1 out of the total 5,000 hectares required for the airport project.

Zurich Airport International AG is the owner of Switzerland’s biggest airport. It emerged as the top bidder to design, build and develop the Jewar airport along the 165-kilometre Yamuna expressway in November last year.

The airport would be spread over 5,000 hectares and will be the biggest in India with eight runways. It is estimated to cater to 70 million passengers annually by 2040-50. The first phase of the project will be completed in 2023.

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