Jewar Airport: Following the approval of a new Foreign Direct Investment (FDI) policy by the Uttar Pradesh Cabinet, Noida International Airport Limited (NIAL) authorities have announced plans to establish an aviation hub as part of the second phase of the international airport development in Jewar, according to an IE report.
NIAL, acting on behalf of the UP Government, is overseeing the airport’s implementation. Approximately 1,000 acres of land have been designated for this project.
Dr. Arun Vir Singh, CEO of Noida International Airport Limited, stated, “For the second phase of Noida International Airport, we have secured 1,365 hectares of land, primarily earmarked for the maintenance and repair and overhaul (MRO) hub, as well as the aviation hub. We will soon invite Expressions of Interest (EoI) for the MRO aspect. In the case of the aviation hub, it has been decided that 1,000 acres of land (out of the acquired 1,365 hectares) will be allocated.”
Scheme for aviation manufacturing
Regarding the aviation hub, Singh explained that a scheme for aviation manufacturing will be launched, serving as a center for activities such as airplane assembly, engine manufacturing, and nozzle production. Many prominent aircraft equipment manufacturing companies are expected to participate in this initiative, including foreign companies that have expressed interest in collaboration.
Singh noted that discussions with foreign companies have been facilitated through the US embassy, and the new FDI policy has made this endeavor more attractive by offering significant benefits. Under the new FDI policy, overseas investors will enjoy advantages such as exemptions in land acquisition, stamp duty, capital investment, a 75% land subsidy, a capital subsidy of up to 100 crore, and 100% state GST reimbursement for a decade. Additionally, government support for training and skill development expenses will be provided.
Employment generation
The NIAL will release the scheme for the aviation hub in November, with PwC tasked with preparing its layout. Singh highlighted that this initiative holds significant potential for employment generation.
Singh emphasised the importance of promoting FDI, following the example of states like Telangana, Andhra Pradesh, and Tamil Nadu, which have excelled in attracting foreign investment. This policy encourages 100% FDI and aims to attract Fortune 500 companies.
The Noida International Airport (NIA) in Jewar is currently in its first phase of development, covering 1,334 hectares. It is being developed by Yamuna International Airport Private Limited (YIAPL), a subsidiary of Zurich Airport International AG. Once the expansion is completed and its six proposed runways become operational, it is expected to become one of India’s largest airports.