Noida37 minutes ago
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Has acquired a major stake in a joint venture company set up for the Noida International Airport. The Authority holds 37.5 per cent stake in the company. For this, Noida Authority has given permission to the Authority after giving about Rs 756 crore 60 lakh in three phases. With this money the airport will be developed.
Jewar airport being ready on PPP model
Noida International Airport at Jewar is being built on PPP model. There are two participating bodies in this mega project. On the one hand there are government stakeholders. These include the Government of Uttar Pradesh, the Noida Authority, the Greater Noida Authority and the Yamuna Expressway Industrial Development Authority. The state government and the Noida Authority each hold 37.5%. Similarly, in Greater Noida and Yamuna Authority each holds 12.5% shares. On the basis of this stake, these four government stakeholders have to invest. On the other hand there are private partners. Including Zurich International Airport and State Bank of India. Zurich International Airport has given equity against debt to SBI.
Jewar airport development will accelerate
The authority said that against the 37.5 percent share, till present, the Noida Authority has to provide 1826 crore 10 lakh of the total amount. In relation to this, approval has been given to give Rs 1069 crore in the 196th board meeting. In such a situation, a proposal for post-facto approval of Rs 619 crore in the first phase, Rs 108 crore in the second phase and Rs 28 crore in other items i.e. a total of Rs 756 crore 60 lakh was placed before the 204th board. Which was approved by the board.