Key pact for Jewar Airport to be signed today between Zurich AG and Noida Int'l Airport Ltd
New Delhi: In a major step towards the development of the Jewar Greenfield Airport, Noida International Airport Limited is all set to sign the concession agreement with the directors of Zurich AG on Wednesday afternoon here, officials said, adding that three senior officials including the principal secretary to Uttar Pradesh Chief Minister are expected to reach the YEIDA office in Greater Noida for the signing of the key pact.
The extension of the date for signing the concessionaire agreement between the selected developer and the government agencies for the project got delayed due to the Covid-19 pandemic and the subsequent lockdown, resulting in restrictions on air travel. The signing of the concession agreement holds importance as Zurich Airport International cannot start work at the airport site without it.
On Sunday, the directors of the Swiss company arrived in India to sign the key pact for the development of the Rs 29,560-crore Jewar airport project. "The necessary process has been completed in advance and the agreement will be signed in the Yamuna Expressway Industrial Development Authority's Sector Omega-1 office. Once the agreement is signed, Zurich will start work at the site in the next six months as it needs time to mobilise the workforce and also rope in required agencies," said Arun Vir Singh, chief executive officer (CEO), YEIDA.
The Swiss company Zurich International had got the requisite security clearance from the Ministry of Home Affairs on May 19 this year thus paving the way for signing the concession agreement. The agreement was supposed to be signed by July 2 as per the earlier schedule but on June 10, the Uttar Pradesh government postponed the agreement signing date to August 17 in view of the pandemic.
As per YEIDA officials, the work on the airport project is expected to begin by 2020 and the first phase is likely to be completed by 2023. Around 1,334 hectares of land will be developed for the first phase construction of the Jewar international airport project. The airport will be spread over 5,000 hectares when fully built at an estimated cost of Rs 29,560 crore. Once completed, the airport will be India's largest airport. The proposed airport will have six runways, at par with the world's largest airports.
