Zurich Airport inks pact for Noida International Airport development
AVIATION & AIRPORTS

Zurich Airport inks pact for Noida International Airport development

Zurich Airport International AG (ZAIA) has signed a shareholder agreement with the Noida International Airport (NIAL) for the airport's development.

NIAL’s CEO, Arun Vir Singh, and Yamuna International Airport (YIAPL), CEO, Christoph Schnellmann signed the agreement in the presence of Uttar Pradesh CM Yogi Adityanath.

YIAPL is a 100% subsidiary of Zurich Airport International and has been incorporated for the development of Noida International Airport in Jewar.

NIAL will hold a golden share in YIAPL and the right to nominate two directors to the board as per the shareholder agreement. Singh and UP Civil Aviation Director Vishak Iyer to be added as the board of directors.

The UP government's support to establish and continuously enhance surface access to the airport, establish and expand utilities needed to run the airport, maintain law and order, to build and operate the airport, as per the shareholder agreement.

Chief Minister of Uttar Pradesh Yogi Adityanath said that the signing of the shareholder agreement is the further step in the direction of progress for the state, which will create multi-dimensional progress, heading to Uttar Pradesh's economic development.

For Noida International Airport development, the YIAPL has secured a Rs 3,725 crore loan from the State Bank of India (SBI).

In October last year, the Uttar Pradesh government and Zurich Airport International had signed a concession agreement to start the construction of the Noida airport, expected to cost Rs 29,560 crore.

The master plan for the first phase of construction was submitted to the UP government in December 2020 and selected a four-company consortium to sketch the passenger terminal for the Jewar's greenfield airport.

Daniel Bircher, CEO of Zurich Airport International AG (ZAIA), said that the Noida International Airport would be an engine for India and Uttar Pradesh's economic growth.

Image Source


Also read: Jewar airport project gets HDFC funding

Also read: UP sanctions land acquisition funds for second phase of Jewar airport

Zurich Airport International AG (ZAIA) has signed a shareholder agreement with the Noida International Airport (NIAL) for the airport's development. NIAL’s CEO, Arun Vir Singh, and Yamuna International Airport (YIAPL), CEO, Christoph Schnellmann signed the agreement in the presence of Uttar Pradesh CM Yogi Adityanath. YIAPL is a 100% subsidiary of Zurich Airport International and has been incorporated for the development of Noida International Airport in Jewar. NIAL will hold a golden share in YIAPL and the right to nominate two directors to the board as per the shareholder agreement. Singh and UP Civil Aviation Director Vishak Iyer to be added as the board of directors. The UP government's support to establish and continuously enhance surface access to the airport, establish and expand utilities needed to run the airport, maintain law and order, to build and operate the airport, as per the shareholder agreement. Chief Minister of Uttar Pradesh Yogi Adityanath said that the signing of the shareholder agreement is the further step in the direction of progress for the state, which will create multi-dimensional progress, heading to Uttar Pradesh's economic development. For Noida International Airport development, the YIAPL has secured a Rs 3,725 crore loan from the State Bank of India (SBI). In October last year, the Uttar Pradesh government and Zurich Airport International had signed a concession agreement to start the construction of the Noida airport, expected to cost Rs 29,560 crore. The master plan for the first phase of construction was submitted to the UP government in December 2020 and selected a four-company consortium to sketch the passenger terminal for the Jewar's greenfield airport. Daniel Bircher, CEO of Zurich Airport International AG (ZAIA), said that the Noida International Airport would be an engine for India and Uttar Pradesh's economic growth. Image Source Also read: Jewar airport project gets HDFC funding Also read: UP sanctions land acquisition funds for second phase of Jewar airport

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors...To read the full article Click Here..

Next Story
Real Estate

Serene Communities, Prathima Group Invest Rs 4 billion in Hyderabad

Serene Communities by Columbia Pacific, India’s largest senior living operator, has partnered with Prathima Group to develop two senior living projects in Hyderabad, marking its entry into Telangana. The collaboration represents an investment of Rs 4 billion, combining Serene’s international expertise with Prathima’s local development experience. The first project, Serene BILVANI One, launched in Shankarpally, is Hyderabad’s first premium senior living community. Designed for independent and active ageing, it features senior-friendly architecture, barrier-free design, and wellness..

Next Story
Infrastructure Urban

India remains our most important market

Foundamental, the world’s leading venture capital platform focused on the project economy, has launched its third fund to strengthen its presence in India, APAC, and other global markets. Led by Berlin-based Managing Partners Shubhankar Bhattacharya and Patric Hellermann, Fund III aims for a final close by the end of 2025. In an exclusive interaction with CW, Bhattacharya shares insights on the fund’s mandate, India’s role in their strategy, and the opportunities they see in the construction-tech and project-based sectors. Can you briefly explain Fund III’s mandate and how In..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?