YIAPL Secures Rs 3,725 Crore Loan From SBI For Jewar Airport Development, Real Estate News, ET RealEstate

NEW DELHI: Yamuna International Airport Private Limited (YIAPL) has secured a loan of Rs 3,725 crore from the State Bank of India for the development of Noida International Airport in Jewar, Uttar Pradesh, according to a statement released on Friday.

YIAPL is a 100% subsidiary of Zurich International Airport and was incorporated to develop Jewar Airport, located approximately 70 km from the main Delhi area.

“The entire loan of Rs 3,725 crore was underwritten by SBI over a 20-year door-to-door loan term. We look forward to working closely with SBI to develop Noida International Airport as a that a world-class airport in India, “Christoph Schnellmann, said the Managing Director of YIAPL.

The 20-year door-to-door loan term means that all of the principal plus the interest amount must be paid within 20 years.

“YIAPL is now anxiously awaiting the conclusion of the UP government resettlement and rehabilitation process and the start of the construction of the airport,” the statement added.

“The funding (of Rs 3,725 crore) is a crucial step for the project as it validates the financial viability of the project while outlining the next steps for the creation of Noida International Airport,” the statement said.

When it won the tender on November 29, 2019 to build and operate Noida Airport, Zurich International Airport said the airport would be able to handle 12 million passengers per year after the first phase of construction.

Officials from the government of Uttar Pradesh and the Swiss company signed a concession agreement on October 7, 2020 to begin construction of the Noida airport, estimated at Rs 29,560 crore.

In December 2020, he had submitted the master plan for the first phase of construction to the UP government and selected a consortium of four companies to design the passenger terminal at the entirely new Jewar Airport.

Zurich International Airport had outbid Delhi International Airport (DIAL), Adani Enterprises and Anchorage Infrastructure Investments Holdings Limited to win the 40-year concession for Noida Airport on November 29, 2019.

Zurich International Airport is itself a 100% subsidiary of Flughafen Zurich AG, a listed company which operates Zurich Airport.


Source link

About Douglas Mackenzie

Douglas Mackenzie

Check Also

$ 1.5 billion storm protection plan advances, amid concerns

Elsa, the first hurricane of the season, blew over South Fork on July 9, bringing …

Leave a Reply

Your email address will not be published. Required fields are marked *