NOIDA: Work on Jewar airport is expected to begin in the next eight months as the deal to commission the project was formally inked on Wednesday between the Noida International Airport Limited (NIAL) and Zurich Airport International AG. Officials said that the airport will be constructed in four phases and the first flight is expected to take off 2024. They added that the airport will have one runway at the end of the first phase.
As per officials, the Noida International Airport (NIA) will be developed under a Public-Private Partnership (PPP) model. Currently, the Zurich Airport International holds 100 per cent shareholding in the airport project while a special purpose vehicle has been floated by the Swiss company under the name Yamuna International Airport Private Limited (YIAPL) for developing it.
A senior officer said that the airport project will be built in four phases and is expected to cater around seven crore passengers by 2040. In the first phase, only one runway will be built for NIA and around 90 per cent of the air traffic in the initial years will be domestic only.
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