Uttar Pradesh govt completes first phase of funding for Noida airport

12 Aug 2021 CW Team

The Uttar Pradesh government announced the complete funding of the first phase of the aviation project, for which the State Bank of India (SBI) and Noida International Airport Ltd (NIAL) signed a deal.

According to the officials, the financial agreement was signed between Yamuna International Airport Pvt Ltd (YIAPL), SBI and NIAL. The nodal agency of the project was set up by the UP government.

The stakeholders even signed a substitution agreement and an escrow agreement. The airport's financial clauses were also completed, officials said.

As per a statement, YIAPL raised Rs 3,725 crore from SBI as debt for the project, which will be paid back in 20 years with a one-year moratorium after completing the project. It is one of the largest financings for Indian Greenfield airport.

It further said that the project funding is a debt-to-equity with a ratio of 65:35. The lead shareholder of YIAPL is Zurich Airport International AG (ZAIA), providing Rs 2,005 crore as equity for the development of Noida International Airport.

CEO of NIAL, Arun Vir Singh, said he would enable its team to focus on the construction for the development of the airport.

Shailendra Bhatia, the nodal officer, explained the financial close, which means that the funding related to the project had been completed, and the project was ready for construction.

As per the agreement, YIAPL has to pay 65% of the cost incurred on the project through SBI's funding, while the remaining would be infused with the parent company.

The Noida International Airport will be India's biggest airport after completion. The Greenfield project's first phase covers 1,334 hectares, with two runways, officials said.

Image Source

Also read: Zurich Airport inks pact for Noida International Airport development

Also read: UP govt okays ph 2 land acquisition for Noida airport

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..