According to the agreement, NIAL will hold one golden share in YIAPL and the right to nominate two directors to the board.
NOIDA: The subsidiary of Zurich International Airport AG has signed a shareholding agreement with Noida International Airport Limited (NIAL), the government’s special purpose vehicle for the airport project in Jewar. The deal was signed in the presence of chief minister Yogi Adityanath in Lucknow.
NIAL will own the golden share in Yamuna International Airport Pvt Limited (YIAPL), the subsidiary that will develop and operate the airport. A golden share will provide veto power to the UP government and ensure no hostile takeover of the company takes place.
Noida: More than 80% of the entire work and rehabilitation process have been already achieved in Jewar Bangar, a township being built to rehabilitate the families of the seven villages displaced by the Jewar airport project. And over 2,400 of the 3,003 affected families have already vacated their houses in these villages.
This was conveyed to senior bureaucrats by officials of the district administration at a crucial review meeting on Thursday that was ordered on the first day of the month to ensure that everything is resolved by July 15.
Officials said the villages of Nagla Ganeshi, Nagla Phoolkan and Kishorepur have been completely vacated while only a handful of families in Dayanatpur Khera are left. Being the largest village, only half the families in Rohi have moved out. Majority of people in Nagla Shareef Khan and Nagla Chitar have also shifted. Racing against time, officials have to clear up all the hurdles to pave the way for the foundation stone laying ceremony. “Shiftin
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.