Sunday, July 18, 2021

Noida international Airport at Jewar: Zurich Airport International signs shareholder agreement with NIAL

Noida has been looking forward to getting an international airport for a long time, and now, the Zurich Airport International has signed a shareholder agreement with Noida International Airport Limited or NIAL, an entity under the Uttar Pradesh government, for the development of the Noida International Airport. The agreement was signed by NIAL CEO Arun Vir Singh and Zurich Airport International’s 100% subsidiary Yamuna International Airport Pvt Ltd (YIAPL) CEO Christoph Schnellmann, while UP CM Yogi Adityanath was present. The YIAPL has been incorporated for the development of the Noida International Airport in Jewar, about 70 km away from the main Delhi region, according to a report by news agency PTI.

The agreement entitles NIAL to hold a golden share in YIAPL, along with the right to nominate to the board two directors. The two directors being added to the board are NIAL CEO Arun Vir Singh and UP Civil Aviation Director Vishak Iyer.

The agreement also states that the state government would establish as well as continuously improve the conditions of surface access to the airport, and also establish and expand the utilities like water, electricity and wastewater that are needed to run the airport. Apart from this, maintenance of law and order, including airport’s monitoring, along with grant of required clearances are also areas in which the UP government would support the entities.

Speaking on the occasion, CM Adityanath said that the Noida International Airport would become the benchmark for an airport in India that is “modern, world-class”, adding that it would not only lead to job creation in the state, but would also quicken the industrial infrastructure development, promote exports, provide a boost to tourism and ease the air traffic.

18/07/21 Financial Express

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