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Noida: The Jewar airport project is picking up steam, with the country’s largest public sector bank sanctioning over Rs 3,700 crore for the subsidiary of concessionaire Zurich Airport International to build and develop the greenfield airport. With the required funds in place, the foundation stone laying ceremony for the project can happen within a few weeks.
TOI had earlier reported that Yamuna International Airport Private Limited (YIAPL) would need Rs 5,730 crore for developing the first phase of the Jewar international airport project. The company wanted to fund the project while maintaining a debt to equity ratio of 65 to 35. So, while YIAPL will give Rs 2,005 crore, the additional Rs 3,725 crore will be provided by the State Bank of India (SBI). YIAPL CEO Christoph Schnellmann said: “We are delighted to partner with SBI for financing the development of Noida International Airport. The entire loan of Rs 3,725 crore has been underwritten by SBI on a door-to-door loan tenure
The first phase of Noida International Airport will be a little bigger than the original plan. Instead of 1,334 hectares, the airport will now be developed over 1,350 hectares, with the additional 16 hectares to be utilised for building a maintenance, repair and overhaul (MRO) centre. The additional land is being acquired in Kureb village, directly from farmers, officials said.
NOIDA: The first phase of Noida International Airport will be a little bigger than the original plan. Instead of 1,334 hectares, the airport will now be developed over 1,350 hectares, with the additional 16 hectares to be utilised for building a maintenance, repair and overhaul (MRO) centre. The additional land is being acquired in Kureb village, directly from farmers, officials said.
The Jewar airport model was displayed in the YEIDA gallery
NOIDA: The development of basic amenities in Jewar Bangar village, where families affected by the airport project will be rehabilitated, is nearing completion and officials hope they will be able to start giving possession of plots in the next two-three months.
Families from Nagla Ganesh area of Rohi will be the first to be shifted as their village is where the runway will be built. Once people start moving to Jewar Bangar, houses in the villages that have been acquired for the airport can be razed and the land handed over to Zurich AG for construction to begin.