Zurich Airport International AG's 100% subsidiary Yamuna International Airport Private Limited (YIAPL) has been incorporated as a special purpose vehicle (SPV) to develop the greenfield Noida International Airport (NIA). The master plan's approval took place in collaboration with Landrum and Brown and Zurich Airport International. It was acquired from the Airport Authority of India (AAI), Bureau of Civil Aviation Security (BCAS), Noida International Airport Limited (NIAL), Directorate General of Civil Aviation (DGCA), and additional significant environmental authorities. The master plan outlines the strategic direction for the NIA development from the opening day, expected in FY2024-25, to the end of the 40-year authorisation period. Earlier in August, YIAPL accomplished financial closure for the airport project. Originally the master plan made provisions for two runways, but the Uttar Pradesh government wants to extend this up to five runway airports. The master plan also includes a four-phased development of the airport project, along with phase one witnessing 12 million passenger capacity yearly and phase four seeing 70 million passenger capacity annually. Christoph Schnellmann, Chief Executive Officer YIAPL, said that the master plan shows the goals and purposes by giving solutions that are financially reasonable and cost-effective while maintaining passenger convenience. Image Source Also read: Jewar International Airport construction kicks off Also read: Noida International Airport survey to begin soon