Plan ready to have a spl purpose vehicle for Jewar airport project

The Uttar Pradesh government and the three authorities of Noida, Greater Noida and Yamuna Expressway are expected to sign a memorandum of understanding (MOU) by May-end for the formation of the Noida International Airport Company Limited, which will construct the Jewar international airport. The Noida international airport company, a joint venture body, will function as a special purpose vehicle to develop the airport project in Jewar along the 165km Yamuna Expressway that connects Greater Noida with Agra.The ministry of civil aviation has already given an in-principle approval to the airport project and directed the Yamuna Expressway Development Authority (Yeida) to prepare a request for proposal (RFP) draft, under which a developer for the ambitious project will be selected. “For the smooth work on the airport project, the government has decided to form a company that will have a total of seven members. The UP chief secretary will be the chairperson of this company. We hope it will be formed by May-end so that work can start at the earliest,” Shailendra Bhatia, officer on special duty, Yeida, the nodal agency for the project, said.

Source : Hindustan Times