Jewar Airport to be funded by UP government, YEIDA to felicitate process as Nodal agency
Ashish Kedia
Greater Noida (02/08/2017) : A high level meeting took place in Lucknow on Tuesday to brainstorm on possible model to be adopted for construction of Jewar airport. Few days back DGCA has forwarded three different models to felicitate funds for construction of Jewar airport. In the meeting it was decided that Uttar Pradesh government will fund the Jewar airport in totality and Yamuna Expressway Industrial Authority will function as its nodal agency.
The meeting was attended by Chief secretary Rajive Kumar; director, civil aviation department, UP, Devendra Swarup; principal secretary, industries Alok Sinha and Meerut Commissioner and YEIDA Chairman Prabhat Kumar.
Initially the Directorate of Civil aviation had proposed to form a SPV (Special Purpose Vehicle) which had to be formed with collaboration of Civil Aviation Department and YEIDA, where each would contribute 100 crore initially and raise rest as loan. However YEIDA had refused this model citing economic condition of the authority.
Speaking on same Meerut Commissioner and YEIDA Chairman Dr. Prabhat Kumar said, “The SPV model has been turned down and state government has agreed to fund the project. Initially the land acquisition and rehabilitation will be taken on priority using the fund being provided by state government. YEIDA will function as a Nodal agency for Jewar Airport project”.
Jewar Airport project has been a very long pending project which has again come to speed after formation of Yogi Adityanath’s government in Uttar Pradesh. Union Ministry of Civil Aviation has already given a preliminary nod for the project.
