The UP cabinet approved floating of a joint venture company to begin the construction of an airport in the Jewar city. This nod from the State Council of Ministers is a final approval in regard to the construction of Jewar airport. The Joint Venture Company will be named Noida International Airport Limited and have four stakeholders involved including the Uttar Pradesh State Government.
The other three stakeholders in this joint venture company are Noida Authority, Greater Noida Industrial Development Authority [GNIDA] and Yamuna Expressway Industrial Development Authority [YEIDA] the Officials said. The UP Government and Noida Authority hold 37.5 percent stake each while GNIDA and YEIDA hold 12.5 percent stake respectively. Surya Pal Gangwar, the Special Secretary in the Civil Aviation Ministry sent a letter to all the three authorities stating that the UP Government approved the formation of a Joint Venture Company. The Special Secretary also mentioned that the Department has received in-principle approval for the airport from the State Government after the assessment of the Techno-Economic Feasibility Report [TEFR] by the Council of Ministers. The PricewaterhouseCoopers [PwC] prepared the TEFR report.
A senior official at YEIDA said that authority was seeking an in-principle approval from the Civil Aviation Ministry after PwC submitted its report in April this year. The ministry approved Techno-Economic Feasibility Report [TEFR] in a meeting after which the same was sent for final approval from the UP Government.
The Yamuna Expressway Industrial Development Authority [YEIDA] is coordinating with the farmers whose land will be acquired for the construction of Jewar airport. YEIDA also prepared a Social Impact Assessment study and submitted it to the UP Government. An official said that the tender process is likely to commence from the first week of July as the authority is currently addressing an issue like Environmental clearance.
The UP Government is likely to spend Rs 4,000 crores for acquiring 5,000 hectares in the boundary of eight villages that includes Mukeempur Shivara, Ranhra, Parohi, Kishorpur and Dayanatpur. The construction of Jewar airport is projected to boost employment opportunities by one lakh job openings and the start of this airport will also reduce the traffic of Indira Gandhi International Airport, Delhi.