Swiss airport operator Flughafen Zurich has secured the concession for the design, development and operation of Jewar International Airport in the Indian state of Uttar Pradesh.

The operator will construct and operate the airport for a period of 40 years.

Located 80km from India’s capital city Delhi, the airport is expected to accommodate the region’s growing flight traffic.

The investment for the first phase of the airport construction is estimated at CHF650m ($649.6m).

Following the construction of the first phase in 2023, Jewar Airport will have an estimated capacity of 12 million annual passengers.

After completing six years of commissioning the airport, Flughafen Zurich will pay a fixed passenger fee to the state-owned authority.

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In a statement, Flughafen Zurich said: “After the successful sale of its remaining shares in the airport in Bengaluru (Kempegowda International Airport) in 2017, Flughafen Zürich AG is excited to be again present in India, a focus market for the company.

“With the award of the concession for the new Noida International Airport, Flughafen Zürich AG will participate in the expected growth of the Indian aviation market and will implement its best practices developed in Switzerland while maintaining the local Indian values.”

Indian companies GMR, Adani, L&T and Reliance Infra competed for the contract to build Jewar Airport.

Along with Flughafen Zurich, Hong Kong ADP also reportedly bought the bid documents.

In June, Noida International Airport Limited (NIAL) called for e-bids for the construction of Jewar International Airport.

In March, Flughafen Zurich won the auction to operate the airports of Vitória and Macaé in Brazil. The deal was valued at R$437m ($114.73m).