Uttar Pradesh To Spend Rs 4000 Crore Towards Land Acquisition For Jewar Airport

Out of Rs 4000 crore, Rs 1500 crore will be made available by budget allocated to state civil aviation department, while another Rs 1500 crore will be provided by Noida. Greater Noida Authority and Yamuna Expressway Industrial Development Authority will contribute the rest.

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Uttar Pradesh To Spend Rs 4000 Crore Towards Land Acquisition For Jewar Airport

The Uttar Pradesh government on Wednesday said that Rs 4,000 crore will be spent towards land acquisition for the Noida international Greenfield airport near Jewar.

Out of Rs 4000 crore, Rs 1500 crore will be made available by budget allocated to state civil aviation department, while another Rs 1500 crore will be provided by Noida.  An amount of Rs 500 crore each, shall be shared by Greater Noida Authority and Yamuna Expressway Industrial Development Authority (YEIDA) respectively, a statement issued by the state government said here.

In a bid to fasten work towards the development of much-awaited greenfield Jewar International Airport and for creating a JV company, the Uttar Pradesh government on May 29 had signed a pact with YEIDA, Noida and Greater Noida Industrial Development Authorities.

“The concessionnaire for setting up the airport under PPP mode will be selected via global bidding mechanism. The state government is committed to finish all necessary formalities for setting up the airport,” says Nand Gopal Gupta Nandi, minister for civil aviation.

As for passenger capacity of the Jewar Airport, once it starts operations in  2022-23, its initial capacity would be of 60 lakh passengers and with year-on-year increases its annual passenger capacity is expected to reach up to 10 crore by the year 2050, as estimated by PWC. Earlier, a detailed PWC report on the project’s feasibility and sustainability highlighted that 85 percent of flyers will be domestic and the rest international.

Apart from the socio-economic benefits to the NCR region, Jewar Airport is expected to be a boon for the Delhi Airport. Delhi (IGI) Airport is soon expected to reach its (peak) passenger handling capacity. With the aviation sector growing at almost 15 percent, Delhi Airport is expected to handle almost 10 crore passengers per year by 2022.

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