Zurich International to sign deal on Oct 7 to build Jewar airport

By: |
October 1, 2020 4:58 PM

According to an official in the civil aviation department, the agreement will be signed by the CEO of Zurich Airport International and the CEO of Noida International Airport Limited (NIAL), Arun Vir Singh.

The first phase is expected to cost Rs 4688 crore and is likely to be completed in three years after the financial closure is achieved.

Decks have been cleared for the Rs 30,000-crore Jewar international airport. Zurich Airport International AG, the bidder selected to develop the international airport at Jewar, will sign a concession agreement with the special purpose vehicle (SPV) Yamuna International Airport (YIAL) on October 7 in Noida.

According to an official in the civil aviation department, the agreement will be signed by the CEO of Zurich Airport International and the CEO of Noida International Airport Limited (NIAL), Arun Vir Singh.

“Once the agreement is signed, the concessionaire will have to get a financial closure and start work on the project,” the official said, adding that 1,334 hectares of land under Phase I of the total 5,000 hectares, has been required for the airport project.

Besides, 50 hectares have been acquired for rehabilitation and resettlement purposes. “Of this, 48 hectares are farm land while 2 hectares are government land. We have already acquired 45 hectares of farm land,” he said adding that the remaining farmers are being traced. The total cost of the project, to be developed in four phases, is estimated to be Rs 29,560 crore. The first phase is expected to cost Rs 4688 crore and is likely to be completed in three years after the financial closure is achieved. It is expected to cater to 12 million passengers per annum (MPPA).

The second phase would cost Rs 5,983 crore and is expected to cater to 30 million passengers a year, while the third phase is expected to cost Rs 8415 crore and will serve 50 million passengers a year. The fourth phase would be developed at a cost of Rs 10,575 crore and is expected to handle a traffic of 70 million passengers per year by 2040-50.

“The techno feasibility study has recommended the setting up of five runways as part of the project. We are exploring those possibilities as well and are likely to get to the state cabinet to get a clearance soon,” said the official.

“The security clearance for the project was obtained from the Ministry of Civil Aviation (MoCA) on May 18 itself and the concessionaire agreement was to be signed within 45 days. But due to the Covid-19 pandemic and the restrictions on international travel, Zurich International sought an extension, following which the Uttar Pradesh government gave them time till October 15 for signing the agreement,” the official said, adding that concessionaire will have to submit the master plan within 60 days from the signing of the concession agreement.

“The state support agreement will be signed in 180 days from the signing the concession agreement,” he added.
It may be mentioned that Zurich Airport International AG, the owner of Switzerland’s biggest airport, had emerged as the top bidder to design, build and develop a new airport in Jewar along the 165-km Yamuna Expressway in November last year.

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