jewar airport development pact
Zurich Airport International has signed a shareholder agreement with the Uttar Pradesh government's entity NIAL in Lucknow for the development of the Jewar International Airport at Noida on the outskirts of the national capital. CEO of Noida International Airport Limited (NIAL), Arun Vir Singh, and CEO of Yamuna International Airport Pvt Ltd (YIAPL), Christoph Schnellmann, signed the agreement in the presence of state CM Yogi Adityanath. YIAPL is a 100 per cent subsidiary of Zurich Airport International and has been incorporated to develop the Noida International Airport in Jewar. According to the agreement, NIAL will hold one golden share in YIAPL and the right to nominate two directors to the board including Arun Vir Singh and Vishak Iyer, Director, Civil Aviation, UP Government. The shareholder agreement also underpins the UP government's support to establish and continuously improve surface access to the airport, establish and expand utilities required to run the airport (water, electricity, wastewater), maintain law and order, including monitoring at the airport, and grant the necessary clearances to build and operate the airport.