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Published: Dec 29, 2021
Updated: Dec 29, 2021
Work on the new airport project in Jewar at Noida has started with the project’s financial closure. The airport will be India’s biggest with five runways.
The construction work has started with full backing from the Uttar Pradesh government.
SBI officials said the Jewar project, owned by Swiss Airport, has raised Rs 3,400 crore. The SBI debt will have a tenure of 20 years — with a one-year moratorium after the completion of the project.
Swiss Airport has been incorporated as a special purpose vehicle (SPV) for the development of the greenfield Noida International Airport. Expect an Indian group to pick up a stake in the company just before the project is set for commissioning.
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