YIAPL secures ₹3,725-cr for construction of airport in NCR

The Yamuna International Airport Private Limited (YIAPL) has secured ₹3,725 crore from SBI for the development of Jewar international airport at Noida in NCR, UP, on the outskirts of the national capital. YIAPL is a 100 per cent subsidiary of Zurich Airport International and has been incorporated to develop the airport in Jewar. The entire loan has been underwritten by SBI on a tenor of 20 years and the agency is looking forward to work closely with SBI to develop Noida international airport as a world-class airport in India. YIAPL now looks forward to the conclusion of the UP government's resettlement and rehabilitation process and the start of construction of the airport. This funding is a crucial milestone for the project as it validates the financial viability of the project while also outlining the next steps for the establishment of the Noida international airport. Zurich Airport International is injecting its own ₹2,005 crore in the development of Noida international airport. This amount is in addition to the funds -- of which the aforementioned is also a part -- that are being raised within India to develop the airport. When it won the bid to build and operate the Noida airport, Zurich Airport International had said the airport will be able to handle 12 million passengers per year after the first phase of construction. UP government and the Swiss company had signed a concession agreement on October 7, 2020 to start the construction of the Noida international airport involving an investment of ₹29,560 crore.