Zurich Airport International had outbid Delhi International Airport to win concessionThe Zurich Airport International on Saturday signed an investor arrangement with the Uttar Pradesh federal government's entity NIAL in Lucknow for the development of the Noida International Airport, a declaration stated.
Arun Vir Singh, CEO, Noida International Airport Limited (NIAL), and Christoph Schnellmann, CEO, Yamuna International Airport Pvt Ltd (YIAPL), signed the arrangement in the presence Uttar Pradesh Chief Minister Yogi Adityanath and senior officials of the UP federal government, the Zurich Airport International's statement said.YIAPL is a 100 per cent subsidiary of Zurich Airport International and has been included to develop the Noida International Airport in Jewar, which is around 70 km from the main Delhi area.
According to the contract, NIAL will hold one golden share in YIAPL and the right to choose two directors to the board.
The directors to be contributed to the board will be Arun Vir Singh, CEO NIAL, and Vishak Iyer, Director, Civil Air Travel, Federal Government of Uttar Pradesh, it included.
The shareholder arrangement also underpins the UP federal government's support to establish and continuously enhance surface access to the airport, establish and expand utilities required to run the airport (water, electricity, drainage), keep order, consisting of monitoring at the airport, and approve the necessary clearances to build and operate the airport .
The signing of the shareholder agreement is the next step in the direction of development for the state.
The Noida International Airport will be the benchmark for a contemporary, world-class airport in India, a statement priced estimate Adityanath as stating.
It will accelerate the advancement of industrial infrastructure, boost tourism, promote exports, ease air traffic and lead to development of more tasks in the state.
It will generate multi-dimensional development, leading to financial advancement in Uttar Pradesh, he added.Last month, the YIAPL had announced that it has protected a loan of Rs 3,725 crore from the State Bank of India for the advancement of Noida International Airport.
When it won the bid on November 29, 2019, to develop and operate the Noida airport, the Zurich Airport International had stated the airport will have the ability to manage 12 million passengers annually after the very first phase of construction.Officials of the Uttar Pradesh government and the Swiss company had signed a concession agreement on October 7, 2020, to begin the building of the Noida airport, approximated to cost Rs 29,560 crore.
In December 2020, it had submitted the master plan for the first stage of building to the UP federal government and selected a four-company consortium to develop the passenger terminal for the greenfield airport in Jewar.The Zurich Airport International had outbid Delhi International Airport Limited (DIAL), Adani Enterprises and Anchorage Infrastructure Investments Holdings Limited to win the 40-year concession for the Noida airport in November 2019.
The Zurich Airport International is itself a 100 per cent subsidiary of Flughafen Zurich AG, a listed business that operates the Zurich airport.Zurich Airport International AG (ZAIA) CEO Daniel Bircher said, We are delighted to sign the investor contract, which strengthens the partnership in between ZAIA and NIAL.
The Noida International Airport will be an engine of economic growth for India and Uttar Pradesh, stimulating property and industrial activities in the catchment area along with the advancement of freight and logistics cluster in the NCR area.
This agreement declares UP federal government's dedication to supply roadway and rail connection together with other various energies and to make sure safety and security for the upcoming Noida International Airport, he stated.