In a major development in the Jewar International Airport project, Uttar Pradesh Chief Minister Yogi Adityanath today, on July 17, handed over the 1,334 hectares of land to Noida International Airport Ltd (NIAL) under a 90-year land lease agreement.

A press statement released by the state government informed that Prime Minister Narendra Modi will lay the foundation stone of the airport next month.

The statement further stated that a shareholder agreement between airport developer company Zurich Airport International (AG), Yamuna International Airport Pvt Ltd, a 100 percent subsidiary of Zurich Airport International which is incorporated a Special Purpose Vehicle (SPV) to develop the Greenfield airport, and NIAL was also formalised at the ceremony.

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The Chief Minister was quoted as saying that the airport will be a milestone in the region’s development and that time-bound progress was achieved despite COVID19 restrictions. The chief minister also commended the work of the administration in obtaining the co-operation of farmers in the Jewar region and ensuring land acquisition and resettlement took place without disputes and conflicts.

Also, state Minister of Civil Aviation, Nand Gopal Gupta Nandi, said that the Jewar Airport will become a global identity of Uttar Pradesh. Several officials of the Civil Aviation Department, CEO of Yamuna Expressway Industrial Development Authority and representatives of Zurich Airport International (AG) were present at the event.

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The Jewar Airport shall be constructed in an area encompassing 5,000 hectares and is being developed by Zurich International Airport AG at an estimated cost of Rs 295.60 billion.