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Noida International Airport in Jewar master plan approved, construction may start in a week

The YIAPL signed financing agreements with the State Bank of India (SBI) and Noida International Airport Ltd for financial close for the project.

India TV News Desk India TV News Desk
New Delhi Published on: August 18, 2021 16:59 IST
Zurich Airport International AG (ZAIA), a fully owned
Image Source : INDIA TV

Zurich Airport International AG (ZAIA), a fully owned subsidiary of Flughafen Zurich AG, is the main shareholder of YIAPL and is injecting Rs 2,005 crore as equity into the development of Noida International Airport.

After Noida International Airport Limited (NIAL), the Yamuna Development Authority has now approved the master plan of the upcoming Noida International Airport in Jewar, an official has informed.

As almost all the construction-related permissions have been given, the developer company Yamuna International Airport Private Limited (YIAPL) is now preparing to start the construction work of the airport in a week.

As per reports, at first, the boundary wall, YIAPL office and Air Traffic Control (ATC) building will be constructed.

Speaking on the development, Chief Executive Officer, Yamuna Development Authority, Dr. Arunveer Singh informed that the Yamuna Authority has approved the master plan for the first phase of the Noida International Airport. The master plan has now been passed by all the agencies. 

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Earlier on Tuesday, the Yamuna International Airport Pvt Ltd (YIAPL) achieved financial closure for the Noida International Airport (NIA) project.

The YIAPL signed financing agreements with the State Bank of India (SBI) and Noida International Airport Ltd for financial close for the project.

Till now, it has raised Rs 3,725 crore in debt from the SBI to be repaid over a period of 20 years with one-year moratorium post completion of the project. This is one of the largest financings in an Indian greenfield airport, the company said.

"The financial close marks another crucial milestone for the project, bringing it closer to start of construction works," it said.

"The project is being funded on a debt-to-equity ratio of 65:35.

Zurich Airport International AG (ZAIA), a fully owned subsidiary of Flughafen Zurich AG, is the main shareholder of YIAPL and is injecting Rs 2,005 crore as equity into the development of Noida International Airport."

(With IANS inputs)

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