Financial agreements for Jewar International Airport to conclude by April 2021

According to Yamuna International Airport Pvt. Ltd (YIAPL) chairman and managing director Daniel Bircher, YIAPL plans to finish all the financing pacts for the project by April 2021 and start construction soon after. He further added that the construction work is likely to start in the second quarter of 2021. However, this is subject to the state government handing over the land by then. Switzerland’s Zurich Airport International AG (ZAI) in November 2019 had emerged as the highest bidder for the planned airport at Jewar, Uttar Pradesh. To implement the project, ZAI had floated a special purposed vehicle. In October 2020, the concession agreement for the greenfield airport was signed between UP government agency Noida International Airport Authority and YIAPL.

As per Bircher, for financial closure, YIAPL is in early discussions with banks and other financial institutions. The firm is working at a debt-to-equity ratio that is common for airport projects. Overall, the investment committed by it is in the range of Rs. 4,500 crore. Once the first phase is completed by mid-2024, the airport will cater to 12 million passengers. Afterwards, depending on the passenger growth, it will cater to 30 million passengers on the completion of second phase, 50 million in the third phase, and 70 million passengers by the end of the fourth phase.

Apart from this, for domestic and short- and mid-haul international flights, YIAPL plans to create an airport hub catering mainly to Airbus A320 and Boeing 737 aircraft. Also, it would provide overnight aircraft parking for airlines.

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