Sunday, December 06, 2020

Zurich AG submits master plan of Jewar airport to govt

Greater Noida: Zurich AG, the concessionaire appointed to develop and operate the Jewar international airport, has submitted its master plan to Noida International Airport Limited (NIAL). The special purpose vehicle 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 on October 7, Zurich AG had been 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 on Thursday evening. The company will bring in capital investments worth over Rs 5,000 crore.

“It will take some time to go through the master plan and building design. It will be forwarded to the UP government as well as the Union government for scrutiny. In case some revision or rectification is required as per the industry norms, Zurich AG will be asked to update the plan,” said Arun Vir Singh, CEO of NIAL.

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 plan.

An officer involved with the process revealed, “While focus is on the plan and design of the first phase, Zurich AG has outlined their development plan over the course of 40 years.”

To be developed over 4,752 hectares of land in phases, construction work for the first phase over 1,334 hectares of land shall commence in June-July next year. Officials said that it shall take four to six weeks to ratify the master plan.

06/12/20 Shalabh/Times of India

To Read the News in full at Source, Click the Headline


Post a Comment