With funding from SBI, YIAPL would cover 65% of the cost of the Jewar Airport project;
Zurich Airport International would cover the remaining 25%.
The UP government officially transferred land for the building of the airport in Noida on July 31,
2021, formalizing the financial closure for Phase-1 of the Jewar Airport project. Upon
completion, the airport in Noida is expected to be the largest airport in the nation.
Noida International Airport Limited, Yamuna International Airport Pvt was also present at the
signing, which transferred ownership of 1,334 hectares of the Jewar Airport land from Noida
International Airport Limited to Yamuna International Airport Pvt Limited.
In terms of creating jobs and ensuring economic success, civil aviation has enormous potential.
In addition to improving the state's industrial infrastructure and opening up more investment
options, the Jewar Airport would also help the tourism industry, according to Aditya Nath, who
spoke at the virtual event.
UP Government Has Allocated Rs 2,890 Crores For The Phase-II Land Purchase At Jewar
Airport.
March 18, 2021: On March 17, 2021, the Uttar Pradesh cabinet approved a funding allocation for
land acquisition for phase-II of the Jewar International Airport in Noida in the amount of Rs
2,890 crores. The awarded grant will be used to purchase 1,365 hectares of land for the airport
project, which when finished will be the largest in Asia.
The statement was made a few days after a state support agreement was signed between the
developers in charge of the huge project, Zurich Airport International, and the Noida
International Airport Limited, a subsidiary of the Yamuna International Airport Private Limited.
Due to the government's acquisition of land, the money that the cabinet approved would also pay
for the costs of resettling and rehabilitating displaced persons. For the purpose of resettling
displaced persons, the Gautam Buddh Nagar district administration has already purchased 48
hectares of land in the Jewar Bangar neighborhood.
The construction of the six-runway mega airport in Uttar Pradesh's Gautam Budh Nagar district
will take place over a total of 5,000 hectares. Phase I's land acquisition has already been finished,
with more than 1,334 hectares of land acquired.
The Uttar Pradesh government included funding for the airport project in its budget, which was
presented on February 17, 2021, in the amount of Rs 2,000 crores. Near his Budget speech, UP
Finance Minister Suresh Khanna stated that a budget of Rs 2,000 crores had been proposed for
the Noida International Greenfield Airport in Gautam Buddh Nagar's Jewar and that phase-I of
the airport project would be operational by 2023.