Prime Minister Narendra Modi will perform the bhoomi pujan from Noida International Airport (NIA) to Jewar in the NCR region on November 25. The airport is developed by Yamuna International Airport Private Limited (YIAPL), a 100% subsidiary of the Swiss Concessionaire Zurich International Airport AG project. Yamuna International Airport Pvt Ltd (YIAPL) is developing Noida International Airport under the PPP model in close partnership with the Government of Uttar Pradesh and the Government of India.
With the construction of the airport, it is expressed that employment opportunities will open up in the state. “YIAPL is committed to building a world-class airport in India which will act as a catalyst for the economic growth of India and Uttar Pradesh. Investment in Noida International Airport (NIA) will fuel the economy of the NCR, Greater Noida, and the state of Uttar Pradesh, thus also generating significant direct and indirect employment opportunities in the region, ”the airport authority said in a statement.
The airport will be the logistics gateway to North India. Because of its size and capacity, Noida International Airport will be a game-changer for the state. According to the Prime Minister’s Office (PMO), the airport is strategically located and will serve residents of cities such as Delhi, Noida, Ghaziabad, Aligarh, Agra, Faridabad and surrounding areas.
“When fully constructed, Noida International Airport will be a thriving international airport serving the National Capital Region of Delhi and the rapidly developing industrial development area of the Yamuna Highway between Delhi and Agra. The continued support of the UP government to the project has been vital in the process so far, ”said the airport authority. Recently, YIAPL signed the financing agreements with State Bank of India (SBI) and Noida International Airport Limited (NIAL), the node agency of the government of Uttar Pradesh for the project, to achieve the closure financial support of the NIA project. YIAPL has raised Rs 3,725 crore of debt from SBI to be repaid over a 20-year period with a one-year moratorium after project completion. This is one of the most important financings of an entirely new Indian airport. The financial close marks another crucial milestone for the project, bringing it closer to the start of construction. The project is funded on a debt ratio of 65:35.
“The airport will be at the confluence of air transport, high-speed train, metro and road transport. Although the master plan is prepared to meet demand throughout the 40-year concession period with two tracks, the government of Uttar Pradesh has greater aspirations over a wider time horizon to eventually have 5 tracks. . The airport master plan provides the platform for this aspiration growth, ”the Noida airport statement read. The airport will develop a ground transportation hub that will include a multimodal transit hub, housing metro and high-speed train stations, taxi and bus services and private parking.
This will allow seamless connectivity of the airport with road, rail and metro. Noida and Delhi will be connected to the airport by a hassle-free metro service. All major nearby roads and highways, such as Yamuna Expressway, Western Ring Road, Eastern Ring Road, Delhi-Mumbai Expressway and others, will be connected to the airport. The airport covers more than 1,300 hectares of land, the first completed phase of the airport will have a capacity to serve around 1.2 crore of passengers per year and the works are expected to be completed by 2024. (ANI)
(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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