NEW DELHI : Yamuna International Airport Pvt Ltd (YIAPL), a 100% subsidiary of Zurich Airport International AG, which has been incorporated as a special purpose vehicle (SPV) to develop the greenfield Noida International Airport (NIA) also popularly known as the Jewar airport, on Tuesday said it has secured the final approval for the masterplan for the project.
The approval for the masterplan, which was prepared in collaboration with aviation consultants Landrum & Brown and experts from Zurich Airport International, was secured from NIAL (Noida International Airport Limited), DGCA (Directorate General of Civil Aviation), AAI (Airports Authority of India), BCAS (Bureau of Civil Aviation Security) and necessary environmental authorities, YIAPL said.
The master plan describes the strategic direction for the development of NIA from the opening day, anticipated in FY 2024-25, to the end of the 40-year concession period, it added.
YIAPL, which had earlier in August achieved financial closure for the airport project, said while the masterplan originally made provisions for two runways, the Uttar Pradesh government wants to expand this to up to five runway airports.
The masterplan also takes into account a four-phased development of the airport project, with phase one seeing 12 million passenger capacity annually and phase four seeing 70 million passenger capacity annually.
“The approval of the master plan is a pivotal milestone, as it paves the way for the development of Noida International Airport for the next 40 years," said Christoph Schnellmann, Chief Executive Officer, Yamuna International Airport Private Limited.
"The masterplan reflects the goals and objectives set, by providing solutions that are financially prudent, cost-effective, and commercially sound; at the heart of it remains passenger convenience," he added.
