Deadline extended for signing concession agreement for Jewar airport project
The project will be developed under the aegis of the Noida International Airport
The Uttar Pradesh cabinet has extended the deadline for signing the concession agreement with Swiss company Zurich Airport International (ZAI) to develop the proposed greenfield Jewar airport project in Greater Noida.
The state has taken into account the likely resumption of international flights between India and Malaysia and India and Switzerland in coming months, apart from the mandatory quarantine period for international travellers entering the country.
As per the cabinet decision, the deadline for signing the agreement with the Swiss company has been extended till 45 days from the resumption of India-Malaysia and India-Switzerland flights (whichever is later) or 17 August 2020, whichever is earlier.
The project will be developed under the aegis of the Noida International Airport (NIAL). The airport is touted to generate revenues of nearly Rs one trillion for Uttar Pradesh in 30 years after it becomes operational in 2023.
As per the techno-economic feasibility report, the airport will handle 70 million passengers and three million tonne cargo annually when fully developed in different phases.
On 9 December 2019, the state cabinet approved the proposal to award the flagship project to ZAI, which had emerged as the highest bidder offering per passenger fee of nearly Rs 401, thus beating three other competitors, including GMR Group-led Delhi International Airport (DIAL), Adani Enterprises and Anchorage Infrastructure Investments.
Earlier, the state project monitoring and implementation committee had recommended ZAI be awarded the contract for the airport.
The new airport will be designed, developed and operated under 40 year concession period and ZAI will invest more than Rs 4,500 crore in Phase-I of the project, which will also decongest the New Delhi’s Indira Gandhi International Airport (IGIA).
The airport will require 1,450 ha of land for Phase-I civil works spanning six villages in Greater Noida.