The Government of Uttar Pradesh (UP) in India has sanctioned approximately Rs12.6bn ($178.5m) for an acquisition of land for the proposed Jewar International Airport in Gautam Buddh Nagar.
The government will purchase nearly 1,327ha of land during the first construction phase, which will comprise terminal buildings and runways.
The Greenfield international airport was first planned in 2001. Set to cover a total area of 5,000ha, the proposed Rs200bn ($2.83bn) facility will be developed on a public-private partnership (PPP) model, and bids are likely to be invited by the end of this year.
Once complete, the airport will initially manage around five million passengers per annum (MPA). This is expected to rise to up to 60MPA over the next 30 years following a series of expansions.
Special-purpose vehicle (SPV) Noida International Airport (NIAL) has been formed to work and supervise project development. NIAL will invite bids for concessionaire services to complete the airport project.
Yamuna Expressway Industrial Development Authority’s (YEIDA) CEO Arun Vir Singh and UP’s chief secretary Anup Chandra Pandey will respectively serve as CEO and chairperson of NIAL.
Noida’s authority and the UP Government will each own a 37.5% interest in NIAL, while the Greater Noida authority and YEIDA will each have a stake of 12.5%.
Jewar Airport is scheduled to become operational by 2023.