Agreement For  Construction Of Rs 29,000 Crore Jewar Airport To Be Signed Today; Zurich  Airport Emerged As Highest Bidder Last YearVarious airlines parked at Delhi airport (Ramesh Pathania/Mint via Getty Images)

An agreement for the construction of the Jewar Airport in western Uttar Pradesh’s Gautam Buddh Nagar district will be signed today.

The agreement for the Rs 29,650 crore project will be signed between Swiz firm Zurich Airport International and Yamuna International Airport Private Limited.

The signing of the agreement faced delays due to the outbreak of Covid-19 and the lockdown and travel restrictions imposed subsequently.

Zurich Airport International had pipped competitors like Adani Enterprises, the GMR Group-led consortium comprising Delhi International Airport Limited (DIAL) and Anchorage Infrastructure Investments Holding.

The Swiss firm offered revenue share of Rs 400.97 per passenger. Bids from Adani, DIAL and Anchorage Holding stood at Rs 360, Rs 351 and Rs 205, respectively.

The airport will be developed, operated and maintained by the Europen company under a 40-year concession. The company plans to invest Rs 4,663 for this purpose in the first phase of the Jewar Airport project.

The first phase of the project has to be completed by 2023. However, the timeline, formulated before the Covid-19 pandemic struck, may see some changes.

When the first phase becomes operational, the Jewar International Airport will handle around 12 million passengers every year.

The project will be spread over an area of 5,000 hectares and may have six to eight runways, Noida International Airport Limited said.

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