Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Industry News

| More

Zurich Airport International AG signs shareholder agreement for the development of Noida International Airport

Posted On: 2021-07-18 06:24:52 (Time Zone: UTC)


Progressing further towards the development of Noida International Airport (NIA), the shareholder agreement between Zurich Airport International AG (ZAIA) and Noida International Airport Limited (NIAL) was signed in Lucknow today. Shri Arunvir Singh, CEO NIAL, and Mr. Christoph Schnellmann, CEO YIAPL, signed the agreement in the presence of the Honorable Chief Minister of Uttar Pradesh, Shri Yogi Adityanath; Shri Rajendra Kumar Tiwari, Chief Secretary, Government of Uttar Pradesh; and Shri S.P. Goyal, Additional Chief Secretary, Government of Uttar Pradesh.

As per the agreement, NIAL will hold one golden share in Yamuna International Airport Pvt Ltd (YIAPL) and the right to nominate two directors to the board. The directors to be added to the board will be Dr. Arun Vir Singh, CEO NIAL, and Mr. Vishak Iyer, Director Civil Aviation, Government of Uttar Pradesh.

The shareholder agreement marks another important milestone for the Noida International Airport project and the much-awaited aviation infrastructure in the NCR region and in Uttar Pradesh. Jointly committed, ZAIA and the UP Government are developing Noida International Airport as an upcoming world-class airport. The agreement also underpins the state government's support to establish and continuously improve surface access to the airport, establish and expand utilities required to run the airport (water, electricity, wastewater), maintain law and order, including monitoring at the airport and grant the necessary clearances to build and operate the airport.

At the occasion, Shri Yogi Adityanath, Honourable Chief Minister, Government of Uttar Pradesh said, "The signing of the shareholder agreement is the next step in the direction of progress for the state. Noida International Airport will be the benchmark for a modern, world-class airport in India. It will accelerate the development of industrial infrastructure, boost tourism, promote exports, ease air traffic and lead to creation of more jobs in the state. It will generate multi-dimensional progress, leading to economic development in Uttar Pradesh".

Mr. Arunvir Singh, Chief Executive Officer, NIAL said, "The shareholder agreement with Zurich Airport International AG (ZAIA) is yet another stride towards developing a truly world-class airport in Uttar Pradesh. We all are eagerly awaiting the beginning of construction of the airport, which will herald economic growth and job opportunities in the state. We are confident that NIA will be the benchmark for a digital, sustainable and state-of-the-art airport not only for the state but for the whole country".

Mr Daniel Bircher, Chief Executive Officer, Zurich Airport International AG said, "We are pleased to sign the shareholder agreement, which strengthens the partnership between ZAIA and NIAL. The Noida International Airport will be an engine of economic growth for India and Uttar Pradesh, stimulating residential and industrial activities in the catchment area as well as the development of cargo and logistics cluster in the NCR region. This agreement reaffirms UP government's commitment to provide road & rail connectivity along with other various utilities and to ensure safety and security for the upcoming Noida International Airport."

Mr Bircher further added, "ZAIA is a committed partner for India's growth, and we see tremendous opportunities to invest and support India's national agenda through infrastructural development and job creation. We are invested in India's aviation ecosystem and are working closely with the Government of Uttar Pradesh and Government of India to build a passenger friendly, digital and green airport with a seamless logistics ecosystem."

NIA is envisaged to become India's first net zero emission airport and is very pleased with the proactive stance taken by the UP government in its UP solar energy policy 2017. NIA is striving to make air travel more affordable for airlines and passengers by building the infrastructure in a sustainable and cost-effective manner using renewable energy. The state government's support through measures such as VAT/ GST exemptions on procurement of equipment related to renewable energy, on cross-subsidy charges, wheeling/transmission charges as well as on open access charges will help make NIA's sustainability investments financially viable. Last month, Yamuna International Airport Pvt Ltd (YIAPL) received the final credit sanction for INR 3725 crore from the State Bank of India (SBI) for the development of Noida International Airport (NIA).


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

CRISIL awards highest grading to Muthoot Microfin for fourth consecutive year

Tata Capital introduces Digital 'Loan Against Mutual Funds'

India Post Payments Bank in Strategic Alliance with Tata AIG General Insurance for Non-Life Insurance Products

JLL names Indian-origin Siddharth Taparia as Chief Marketing Officer

PharmEasy to hire 200+ engineers and launch New Development Centres in Hyderabad, Pune & NCR

Kotak Special Situations Fund invests Rs 1000 crore in TVS Supply Chain Solutions Limited & promoters of TVS Family

SBM Bank India collaborates with Lendingkart to market unique tailormade Overdraft facility

SBM Bank India Collaborates with OneCard to extend mobile-based credit cards

SVC Bank appoints Mr. Ashish Singhal as Managing Director

Liberty General Insurance offers special Travel Insurance for flight bookings on Yatra

India Ratings upgrades Muthoottu Mini Financiers debts instruments Ratings

BANKIT expects Rs 30,448-cr gross transaction value in current fiscal

Muthoottu Mini's NCD Public Issue Open, Effective Annualized Yield up to 10.47%*

Flipkart Wholesale plans to more than triple footprint in India by December to serve Kiranas

Go First, strengthen global presence through partnership with WorldTicket and Discover the World

Paytm Insurance Broking has 11.3 million customers who bought over 31 million insurance products

CreatorStack raises US$ 2mn in seed, led by Accel

Go First inducts 49th Airbus A320Neo Aircraft to its fleet

India INX expands product portfolio and permit trading in international stocks

Yamuna International Airport Pvt Ltd achieves financial close for Noida International Airport development

Tribal Women of Raj Uphaar Power Go First's New In-Flight Menu

BOI AXA Investment Managers appoints CEO

Revery raises US$2 million in pre-seed funding led by Sequoia Capital India

JLL launches residential property portal JLLHomes.co.in

Bharat Biotech's ROTAVAC 5D® Receives WHO Prequalification

B2B FMCG wholesale platform Apnaklub raises US$3.5 million in funding from Sequoia Capital India's Surge

Snapdeal's fashion sales up 210% in 2021

Strata raises $6 million in Series-A funding led by Kotak Investment Advisors, Gruhas Proptech, Sabre Investments and existing investors

Home Credit India is now Great Place to WorkR 2021 Certified

Housing sales may see a spurt of 20-35 % in the upcoming monsoons months: JLL

Meesho Becomes the First E-commerce Marketplace to Offer Zero Percent Commission to Sellers

Media processing company Gumlet raises USD$1.6 million in funding led by Sequoia Capital India's Surge

Fino Payments Bank's QR code based UPI solution to drive P2M digital payments

CM Naveen Patnaik performed Inauguration/ Ground-breaking of 14 industrial projects worth INR 1,537.07 Crore

GO FIRST Marks a stellar growth in market share to 8.3%

Vikram Solar becomes India's largest module manufacturer with upto 2.5 GW capacity

Sales share of Noida and Greater Noida in NCR was 49% in H1 2021: Report

Light Microfinance garners US$ 10 million in Series-A funding

Alstom begins manufacturing of modern commuter & transit trains for Delhi-Ghaziabad-Meerut RRTS project

FedEx Express and Delhivery Come Together to Unlock Cross-Border Potential in India

Bridgeweave launches AI-powered InvestorAi - Your Personal Investment Analyst

TO THE NEW becomes a Partner of Google Cloud Platform

RAIN Technologies proudly launches RAIN TRADER, a marketplace for fully automated, algorithmic investing and trading models

Safexpress launches its 62nd ultra-modern Logistics Park in Navi Mumbai

DBS Bank India grows profitability despite impact from amalgamation of Lakshmi Vilas Bank

Green Soul raises Rs 1.5 Cr in revenue-based financing from Velocity

Liberty General Insurance Launches #Liberty365

CapitaLand launches second S$400 million logistics private fund in India

SBM Bank India collaborates with Drip Capital to empower MSME Exporters

Flipkart Wholesale launches digital platform in Bihar


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020