The Noida Authority has decided to release Rs 13.59 bn and the Greater Noida Authority has decided to release Rs 4.53 bn for the establishment of the Noida International Airport.
The Noida Authority and the Greater Noida Authority each own 37.5 per cent and 12.5 per cent of the Greenfield airport, which is being built as a public-private partnership project.
Aside from them, the Uttar Pradesh government owns 37.5 per cent of the project, with the Yamuna Expressway Authority owning the remaining 12.5 per cent.
The decision to release funds was made at the board meetings of the Noida Authority and the Greater Noida Authority.
Arvind Kumar, Commissioner, Uttar Pradesh - Infrastructure and Industrial Development, presided over the meetings, which were attended by Ritu Maheshwari, the CEO of both authorities.
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