Uttar Pradesh govt completes first phase of funding for Noida airport
AVIATION & AIRPORTS

Uttar Pradesh govt completes first phase of funding for Noida airport

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

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

Next Story
Infrastructure Transport

JNPA Becomes First Indian Port to Cross 10 Million TEU Capacity

The Jawaharlal Nehru Port Authority (JNPA), located at Uran in Navi Mumbai, has become the first port in India to achieve over 10 million TEUs (twenty-foot equivalent units) in container handling capacity.With the recent expansion, the port now operates five container terminals with a combined capacity of 10.4 million TEUs, alongside two liquid and two general cargo terminals.Handling more than half of India’s container traffic, JNPA processed 7.05 million TEUs in 2024 and has moved 15.39 million tonnes of containers and 16.64 million tonnes of total cargo in the first two months of FY 2025â..

Next Story
Infrastructure Transport

Nod for Rs. 36.26 billion Expansion of Pune Metro Line 2

The Union Cabinet has approved the Rs.36.26 billion expansion of Pune Metro Line 2, adding 12.75 km of track and 13 new stations to improve east–west connectivity across the city.The project aims to link Pune’s urban core with rapidly growing suburbs, supporting the city’s rising demand for efficient and sustainable transport solutions. This expansion is part of Corridor 2 of the Pune Metro and includes two key routes: Vanaz to Chandani Chowk (Corridor 2A) and Ramwadi to Wagholi/Vitthalwadi (Corridor 2B).It will connect residential, IT, and educational hubs in areas such as Bavdhan, Koth..

Next Story
Infrastructure Transport

Assembly begins for ‘Nayak’ TBM on Thane– Borivali Twin Tunnel Project

The assembly of ‘Nayak’, the first of four Tunnel Boring Machines (TBMs) for the Thane–Borivali Twin Tube Tunnel Project, has commenced at the Thane site. Built by German firm Herrenknecht AG and deployed by Megha Engineering & Infrastructure (MEIL), the TBM marks a key milestone in Mumbai’s ambitious 11.8-km underground road corridor beneath Sanjay Gandhi National Park.The twin tunnels will reduce the Thane–Borivali travel distance by 12 km and decongest Thane Ghodbunder Road. ‘Nayak’, with a 13.2-metre diameter, is designed to bore through challenging geological conditions ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?