TLI Staff
Noida: In a major step to kickstart construction of the mega airport in Greater Noida and faciliatate surface access to the facility, Noida International Airport Ltd (NIAL) on Monday signed State Support Agreement with the Government of Uttar Pradesh.
The agreement lays down the state government’s support to establish and continuously improve surface access to the airport, establish and expand utilities required to run the airport (water, electricity, waste water), maintain law and order, including monitoring at the airport and grant the necessary clearances to build and operate the airport.
“The state support agreement with Noida International Airport is a step further towards the development of a truly world-class airport in Uttar Pradesh. We are eagerly looking forward to the construction of the airport as it will bring more job opportunities in the state, while heralding economic growth,” said Arunvir Singh, Chief Executive Officer, NIAL.
NIAL is the implementing agency on behalf of the Government of Uttar Pradesh. The corporate entity was incorporated in August 2018 as joint venture of Government of Uttar Pradesh (through Department of Civil Aviation, GoUP), NOIDA, Greater NOIDA and Yamuna Expressway Industrial Development Authority (YEIDA).
The authorised capital of the company is Rs 10,000 crore.
The Uttar Pradesh government signed the concession agreement with Yamuna International Airport Private Ltd (YIAPL) on October 7, 2020 to commence the development of the proposed airport. YIAPL is responsible for implementing the Public-Private Partnership (PPP) project together with the Government of Uttar Pradesh and its agencies.
“Surface access to the airport will be critical and we are delighted to see the government’s strong commitment to this aspect with the early development of the Metro extension from Greater Noida to NIA airport terminal, the integration of an airport terminal station for the upcoming Delhi Varanasi High Speed Rail Link, as well as the link highway to the Delhi-Mumbai Expressway. We are committed to build this world-class airport in Uttar Pradesh and look forward to actively invest and participate in India’s aviation growth story” said company CEO Christoph Schnellmann.
YIAPL is a wholly-owned subsidiary of Swiss airport giant Zurich Airport International AG. The entity has been incorporated as a Special Purpose Vehicle (SPV) to develop the greenfield airport in Greater Noida.
Besides the necessary capital investments in the infrastructure, YIAPL has committed to pay a fixed passenger fee to the state-owned authority starting from the sixth year of commissioning of the new airport.