The airport is being developed by Yamuna International Airport Private Limited (YIAPL), a 100 percent subsidiary of the project’s Swiss concessionaire Zurich International Airport AG.
Yamuna International Airport Pvt Ltd (YIAPL) is developing Noida International Airport under PPP model in close partnership with Government of Uttar Pradesh and Government of India.
With the construction of the airport, employment opportunities are expected to open in the state.
“YIAPL is committed to building a world-class airport in India that will act as a catalyst for the economic growth of India and Uttar Pradesh. Investment in Noida International Airport (NIA) will boost the economy in NCR, Greater Noida, and State of Uttar Pradesh, thereby generating substantial employment opportunities directly and indirectly in the region,” the airport authority said in a statement.
The airport will be the logistic gateway to North India. Due to its scale and capacity, the Noida International Airport will prove to be a game-changer for the state.
According to the Prime Minister’s Office (PMO), the airport is strategically located and will serve people from cities including Delhi, Noida, Ghaziabad, Aligarh, Agra, Faridabad and neighboring areas.
“Once fully built, the Noida International Airport will be a thriving international airport serving the National Capital Region of Delhi and the rapidly developing Yamuna Expressway Industrial Development Zone between Delhi and Agra. The UP government for the project Continued support has been crucial in this process so far,” the airport authority said.
Recently, YIAPL signed financing agreements with State Bank of India (SBI) and Noida International Airport Limited (NIAL), Government of Uttar Pradesh’s nodal agency for the project, to achieve financial closure of the NIA project.
YIAPL has raised Rs 3,725 crore in debt from SBI to be repaid over a period of 20 years with a moratorium of one year after the completion of the project. It is one of the largest financing in Indian greenfield airport. The financial closure is another important milestone for the project, bringing it closer to the start of construction works. The project is being funded at a debt-to-equity ratio of 65:35.
“The airport will be a confluence of air travel, high-speed rail, metro and road transport. Though the master plan has been prepared to accommodate the demand during the concession period of 40 years with two runways, the Uttar Pradesh government has bigger aspirations There will eventually be 5 runways in a wider time frame. The airport master plan provides the platform for this aspirational development.” Noida Airport read the statement.
The airport will develop a ground transportation center that will house a multimodal transit hub, housing metro and high-speed rail stations, taxi, bus services and private parking.
This will enable seamless connectivity of the airport by road, rail and metro. Noida and Delhi will be connected to the airport through hassle free metro service. All major nearby roads and highways like Yamuna Expressway, Western Peripheral Expressway, Eastern Peripheral Expressway, Delhi-Mumbai Expressway and others will be connected to the airport.
The airport is spread over 1300 hectares of land, the completion of the first phase of the airport will have a capacity to serve about 12 million passengers in a year and the work on it is slated to be completed by 2024.
(with inputs from ANI)
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