ZAIA, NIAL ink shareholder pact for development of Noida Airport

Delhi: A shareholder agreement between Zurich Airport International AG (ZAIA) and Noida International Airport Limited (NIAL) was signed in Lucknow for the development of the Noida International Airport (NIA).

NIAL CEO Arunvir Singh and YIAPL CEO Christoph Schnellmann signed the agreement in the presence of Uttar Pradesh Chief Minister Yogi Adityanath; Chief Secretary Rajendra Kumar Tiwari and Additional Chief Secretary S.P. Goyal.

As per the agreement, NIAL will hold one golden share in Yamuna International Airport Pvt Ltd (YIAPL) and the right to nominate two directors to the board. The directors to be added to the board will be NIAL CEO Dr. Arun Vir Singh, and Uttar Pradesh Civil Aviation Director Vishak Iyer.

The shareholder agreement marks another important milestone for the Noida International Airport project and the much-awaited aviation infrastructure in the NCR region and in Uttar Pradesh. Jointly committed, ZAIA and the UP Government are developing Noida International Airport as an upcoming world-class airport.

The agreement also underpins the state government’s support to establish and continually improve surface access to the airport, establish and expand utilities required to run the airport (water, electricity, wastewater), maintain law and order, including monitoring at the airport and grant the necessary clearances to build and operate the airport.

On the occasion,Uttar Pradesh Chief Minister Yogi Adityanath said, “The signing of the shareholder agreement is the next step in the direction of progress in the state. Noida International Airport will be the benchmark for a modern, world-class airport in India. It will accelerate the development of industrial infrastructure, boost tourism, promote exports, ease air traffic and lead to the creation of more jobs in the state. It will generate multi-dimensional progress, leading to economic development in Uttar Pradesh”.

NIAL Chief Executive Officer Arunvir Singh said, “The shareholder agreement with Zurich Airport International AG (ZAIA) is yet another stride towards developing a truly world-class airport in Uttar Pradesh. We all are eagerly awaiting the beginning of construction of the airport, which will herald economic growth and job opportunities in the state. We are confident that NIA will be the benchmark for a digital, sustainable and state-of-the-art airport not only for the state but for the whole country”.

NIA is envisaged to become India’s first net zero emission airport. NIA is striving to make air travel more affordable for airlines and passengers by building the infrastructure in a sustainable and cost-effective manner using renewable energy.