Wednesday, June 10, 2020

Delhi: Signing date of Jewar Airport's key pact deferred due to COVID-19 pandemic

In view of the COVID-19 pandemic, the Uttar Pradesh government has deferred the date of signing of a key pact for the Jewar airport with its developer to begin work on the Rs 29,560-crore project, according to an order.
The decision to defer the "concession agreement" was taken by the state cabinet during a meeting in Lucknow on Tuesday.
"The signing of the concession agreement with selected developer Zurich Airport International AG has been extended by 45 days from resumption of India-Malaysia and India-Switzerland flights plus mandatory quarantine days or by August 17, whichever is earlier," the order stated. Officials said the Zurich airport has floated a special purpose vehicle (SPV) for implementing the project, which has three directors, one of whom lives in India while the other two are based in Malaysia and Switzerland, at its Asia office and headquarters respectively. The state cabinet also authorised Chief Minister Yogi Adityanath to take decisions from time to time regarding the international greenfield airport project, the order said.
According to the officials, the decision was taken in view of the situation arising out of the COVID-19 pandemic.
The concession agreement, in normal conditions, would have been signed by July 2 between the Uttar Pradesh government and the Yamuna International Airport Private Limited (YIAPL) -- an SPV floated by the Zurich airport for implementing the project, the officials said. Shailendra Bhatia, Noida International Airport Limited's nodal officer for the Jewar airport, said the concession agreement was stipulated to be signed within 45 days of the security clearance for the project.
10/06/20 PTI/Deccan Herald
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