India’s Noida International Airport Limited (NIAL) has called for e-bids from global firms for the construction of a new airport at Jewar in Uttar Pradesh.
The global firms can submit their bids until the end of October, reported LiveMint.
This will be the second airport in the national capital region following the New Delhi International Airport.
Technical bids for the project will open on 6 November while the financial bids on 29 November, reported PTI.
NIAL posted on Twitter that firms have time until 1 July to get any clarification on the project.
Queries of the investors will be answered until the end of August.
The airport is to be constructed at an estimated cost of Rs157bn ($2.1bn).
The development of the airport is expected to boost air travel market in the region, job opportunities and the state economy.
Under the government’s new programme, investors providing the highest revenue share per passenger to the NIAL will secure the contract to build the airport.
The airport’s construction work is expected to commence in early 2020 while the first phase is likely to close by 2023.
India is looking at building several new airports and is providing tax breaks for air services in its efforts to make air travel accessible for more number of people.
The last few years have seen the air travel market experience a double-digit growth; however, tough competition among air service providers and aggressive pricing strategies have increased concerns about the survival of carriers, which also are vulnerable to currency and fuel price fluctuations.