Greater Noida: The concession agreement with Swiss company Zurich Airport International AG to develop the proposed greenfield Jewar airport project in Greater Noida is expected to be signed in the second week of October, officials from the Noida International Airport Limited (NIAL) said on Tuesday.
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.
On May 19 this year, Zurich International had got requisite security clearance from the Union ministry of home affairs, paving way for the singing of concession agreement.
Speaking to ETV Bharat, Arun Vir Singh, chief executive officer, NIAL, a nodal agency to monitor the airport project, said that the company officials were waiting for the removal of the ban imposed on international flights in the wake of COVID-19 pandemic. International flights are likely to resume operations from October 1. Therefore, the agreement will be signed before October 15 for sure.
"Once the agreement is signed, Zurich will start work at the site in the next six months as it needs time to mobilize the workforce and also rope in required agencies, added Singh.
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).
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