Tuesday, August 01, 2017

Meeting for Jewar airport project

Greater Noida: A high-level meeting to decide on the budget allocation and funding method for the international airport at Jewar has been scheduled in Lucknow on Tuesday.
According to officials, chairman of Yamuna Expressway Industrial Development Authority Prabhat Kumar, director of civil aviation department Devendra Swarup and chief secretary Rajeev Kumar will be present in the meeting.
Swarup had on July 25 sent a proposal to the state government regarding the funding method for purchase of land for the project in Jewar. He had proposed three options for generating the Rs 2,000 crore required for the purpose. One of them is the formation of a Special Purpose Vehicle of the Union and UP governments to generate money for the land acquisition. "The second option suggests that the state government generate the amount on its own to fund the land purchase, while the third option is that YEIDA and civil aviation department form an SPV to generate a seed capital of Rs 100 crore each and arrange a loan of Rs 1,800 crore from another source," a YEIDA official told TOI.
01/08/17 Vandana Keelor/Times of India