To build the international airport project on a fast-track basis, Zurich AG, the concessionaire appointed to develop and operate the Jewar international airport, has finalized and submitted its master plan to Noida International Airport Limited (NIAL). Special purpose vehicle, set up to build the mega aviation project, will go through the plan and also get it vetted by regulatory bodies as well as the Union civil aviation ministry before unveiling the same next year. Having signed the concession agreement with NIAL, Zurich AG was given time up to December 6 to submit its master plan and design. Yamuna International Airport Pvt Ltd, a 100% subsidiary of Zurich AG, shared the master plan outlining the development of the airport for which the company will bring in capital investments worth over ₹5,000 crore. Arun Vir Singh, CEO of NIAL, informed that the master plan will be forwarded to Union ministry of civil aviation, directorate general of civil aviation and Airports Authority of India for further examination and vetting. Once the regulatory bodies and the ministry go through the submissions and provide their feedback to NIAL, Zurich AG will be given the green signal to go ahead with the project.
📅Published on:
08 December 2020
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