Zurich Airport International AG, the bidder decided to expand Jewar International Airport, will signal a concession agreement with the Special Goal Vehicle (SPV) at Yamuna International Airport (YIAL) on Wednesday.
Officials at Noida Limited International Airport (NIAL) said last month that signing the agreement is vital because Zurich International Airport cannot start painting at the airport without it.
“The concession agreement with the Swiss company Zurich AG will be signed in october. Company officials awaited the lifting of the ban on foreign flights following the Covid-19 pandemic. International flights will likely resume operations from October 1, so the agreement will be signed safely until October 15 and the date will be finalized once air tickets are booked for senior Zurich officials,” said Arun Vir Singh, CEO of NIAL, the nodal firm that tracks the airport project. .
Initially, the agreement was to be signed on July 2, but Uttar Pradesh’s government postponed the agreement’s signing date until August 17 due to the Covid-19 pandemic. On 14 August, Zurich International had time until October 15 for the signing of the agreement due to restrictions on air travel.
“Once the agreement is signed, Zurich will start painting on site for the next six months, as it will take time to mobilize and also mobilize the mandatory agencies,” Singh said.
The administration of Gautam Budh Nagar acquired 1,334 hectares of land from Phase 1 of a total of 5,000 hectares required for the airport project.
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