Ministry of Civil Aviation puts airport at greater Noida on the fast track

The Ministry of Civil Aviation has received a techno-feasibility study and project report from the Government of Uttar Pradesh (UP) for setting up an airport at Greater Noida. The Ministry has considered the report and has assured the State Government of Uttar Pradesh that it would require approximately three months to get an ‘in-principle’ approval for the airport from the Government of India under the prevailing circumstances.

The proposal for setting up an airport at Grater Noida was first received by the Ministry of Civil Aviation from the Uttar Pradesh Government in 2001 and the technical approval for the selected site, was conveyed to the Ministry in 2003. The proposed site, identified for the construction of the Taj International Aviation Hub by the UP Government is nearly 72 kms. from Delhi and 120 kms. from Agra. Approximately 1500 hectares of land had been identified for the construction of the project.

As per the feasibility report of the Uttar Pradesh Government the site has been selected keeping in mind all other strategic points in the nearby areas and so as to have the least environmental impact. The project cost is estimated at Rs. 35050 million. The Taj Expressway Authority will be nominated as the Sponsor of the project and the land acquisition will be done in accordance with the policy of the UP Government. The project Sponsor will acquire the land . The structure to be adopted will be that of a Special Purpose Vehicle (SPV) as Joint Venture with a private party selected through a competitive bidding process; wherein the equity composition will be - private party:74%, Government of UP through Sponsor: 13% and other Government agencies such as AAI :13%.

Source : Press Information Bureau

Keywords