Zurich Airport International AG,the bidder selected to develop the international airport at Jewar, will sign a concession agreement with the special purpose vehicle (SPV) Yamuna International Airport (YIAL) on Wednesday.
Officials from the Noida International Airport Limited (NIAL) said last month that the signing of this agreement is significant as Zurich Airport International cannot start work at the airport site without it.
“The concession agreement with the Switzerland company Zurich AG will be signed in the second week of October. The company officials were waiting for the removal of ban imposed on international flights in the wake of Covid-19 pandemic. International flights are likely to resume operations from October 1. Therefore, the agreement will be signed before October 15 for sure, and date will be finalised once the flight tickets for Zurich top officials are booked,” said Arun Vir Singh, chief executive officer, NIAL, a nodal agency to monitor the airport project.
Initially, the agreement was supposed to be signed on July 2, but the Uttar Pradesh government postponed the agreement signing date to August 17 in view of Covid-19 pandemic. On August 14, Zurich International was given time till October 15 for signing of the agreement in view of restrictions on air travel.
“Once the agreement is signed, Zurich will start work at the site in the next six months as it needs time to mobilize the workforce and also rope in required agencies,” said Singh.
The Gautam Budh Nagar administration has acquired 1,334 hectares of land under phase 1 out of the total 5,000 hectares required for the airport project.
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