Rs.3,725 crores for the development of NIA from SBI

The development of Noida International Airport(NIA) from SBI

State Bank of India(SBI) sanctioned Rs. 3,725 crores for the second airport in the National Capital Region for the development of Noida International Airport(NIA) developed by Yamuna International Airport( YIAPL) at Jewar, Uttar Pradesh.

 “The complete amount of Rs.3,725 has been sanctioned by SBI on a door-to-door loan tenure of 20 years.”Christopher Schnellman, the Chief Executive Officer of YIAPL said.Rs.3,725 crores for the development of NIA from SBI

Zurich International Airport, the complete 100 per cent subsidiary of Flughafen Zurich AG, has the YIAPL as a full subsidiary and funds 2005 crore for the development of NIA.

“YIAPL now looks forward to the conclusion of the UP government’s resettlement and rehabilitation process and the start of construction of the airport,” the statement added.

Door-to-door loan tenure means paying the entire principal amount and the interest by the end of the tenure, here the tenure is 20 years.

The airport further added that the funding of the airport is a crucial milestone as it validates the financial viability while outlining the next steps for the construction of Noida International Airport.

Zurich International Airport on November 29 2019 outbid Delhi International Airport Limited (DIAL), Adani Enterprises, and Anchorage Infrastructure Investments Holdings Limited to win a 40-year concession of the Noida International Airport. The Zurich International airport added that the airport could withstand 12 million passengers after the first phase of construction. In December 2020, it selected a four-company consortium to design the passenger terminal for the second NCR airport. and submitted its first phase construction plan to the UP government.

Uttar Pradesh and Swiss company officials signed a concession agreement to begin the Noida Airport’s construction, estimated at Rs.29,560 on October 7, 2020. 


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