Noida– In the latest development, Noia International Airport’s construction work is 50% complete. It is stated in the report presented during the 16th board meeting of the Noida International Airport Ltd (NIAL) in the state capital Lucknow. “The report clarified that close to 47% of the project is ready,” an official stated, indicating the meeting chaired by chief secretary DS Mishra. As per reports, the developer working on the project i.e. Yamuna International Airport Private Limited (YIAPL) has nearly used half of their allocated budget worth Rs 5,700 crore. In order to oversee the project, the Swiss company Zurich International AG made a special-purpose vehicle (SPV), YIAPL. During the board meeting, NIAL talked about as well as approved 3 vital agendas. Besides the construction update, the board discussed the financial budget along with the balance sheet for the year 2021-22. Additionally, the company secretary is also confirmed.
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The airport will be spread over 1,334 hectares and authorities are aiming to complete the airport’s first phase by 2024, October. The concerned officials from YIAPL are determined to meet the deadline stating the overall construction of the international airport is on schedule. As for Zurich International AG, they will be investing Rs 5,700 crore in regard to the building and economic development of the international airport. They will also be offering job opportunities to the public. Once Phase 1 of the airport is completed. It will be helpful to around 12 million passengers travelling and once Phase IV is complete the figure can go up to 70 million passengers. During Pase 1, a 3,900-metre runway will be made with the capacity to cate 28 aircraft strands. As per the authority, it can cater to 100,000 air traffic movements annually.
