UP Cabinet approves proposal to award Jewar Airport contract to Zurich Airport
11 Dec 2019
2 Min Read
CW Team
Outbidding Indian companies such as DIAL and Adani, Zurich Airport International AG (ZAI) had been awarded the contract to design, develop and operate the international airport at Jewar in Gautam Buddha Nagar in Noida, in November. The Swiss-based developer was put up before PMIC (Project Monitoring and Implementation Committee) on December 2 鈥� where the committee recommended that the company be awarded the contract.
As a final go-ahead, keeping in mind the recommendations and bid offerings, the Uttar Pradesh Government has given its approval to the proposal that allows ZAI to construct and operate the upcoming airport.
Earlier, the financial bids were opened before representatives of bidders at the Noida International Airport (NIAL) office and the bidder was selected on the basis of the highest bid as per Premium per Passenger (PAX). ZAI came out on top as it quoted the highest bid of Rs 400.97 PAX.
Reportedly, the decision to approve the contract awarded to ZAI was taken up at the UP cabinet meeting on December 10.
It is expected, as stated in reports, that the contract for the airport will be signed with the company soon, so as to begin construction and other works early next year. The government, will, however, issue a conditional letter of award to the company by the end of this week. A final contract will be issued upon completion of the security clearance by the Union Ministry for ZAI 鈥� which it is estimated to undertake in January 2020.
5,100 acre (2,063 hectares) has been acquired for the airport project and the environmental clearance has been obtained for what is slated to be one of the biggest airports in Asia. It will be designed, developed and operated under a 40-year concession period and the capital investment in the first phase of the project is expected to be about $650 million during the construction period of nearly four years. The first phase is expected to be able to accommodate around 12 million passengers per year.
Outbidding Indian companies such as DIAL and Adani, Zurich Airport International AG (ZAI) had been awarded the contract to design, develop and operate the international airport at Jewar in Gautam Buddha Nagar in Noida, in November. The Swiss-based developer was put up before PMIC (Project Monitoring and Implementation Committee) on December 2 鈥� where the committee recommended that the company be awarded the contract.As a final go-ahead, keeping in mind the recommendations and bid offerings, the Uttar Pradesh Government has given its approval to the proposal that allows ZAI to construct and operate the upcoming airport. Earlier, the financial bids were opened before representatives of bidders at the Noida International Airport (NIAL) office and the bidder was selected on the basis of the highest bid as per Premium per Passenger (PAX). ZAI came out on top as it quoted the highest bid of Rs 400.97 PAX.Reportedly, the decision to approve the contract awarded to ZAI was taken up at the UP cabinet meeting on December 10. It is expected, as stated in reports, that the contract for the airport will be signed with the company soon, so as to begin construction and other works early next year. The government, will, however, issue a conditional letter of award to the company by the end of this week. A final contract will be issued upon completion of the security clearance by the Union Ministry for ZAI 鈥� which it is estimated to undertake in January 2020. 5,100 acre (2,063 hectares) has been acquired for the airport project and the environmental clearance has been obtained for what is slated to be one of the biggest airports in Asia. It will be designed, developed and operated under a 40-year concession period and the capital investment in the first phase of the project is expected to be about $650 million during the construction period of nearly four years. The first phase is expected to be able to accommodate around 12 million passengers per year.
Next Story
Reliance, Diehl Advance Pact for Precision-Guided Munitions
Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..
Next Story
Modis Navnirman to Migrate to Main Board, Merge Subsidiary
Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..
Next Story
Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025
The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..
