Hudco offers the loan amount of Rs 3,000cr for the Jewar Airport

The Industrial Development Authority board of Yamuna Expressway on Monday told it has acquired the in-principal approval from the agencies of Central government, HUDCO (Housing and Urban Development Corporation

Limited) and NCRPB (NCR Planning Board) – for the loan amount towards an international airport project in Jewar. While the government agency HUDCO has approved to provide the overall loan amount of Rs 3,000 crore at the interest rate of Rs 10.5%, NCRPB has decided to provide Rs 500 crore at the interest rate of 7.5%.

HUDCO

Now the proposal has been forwarded to the government of Uttar Pradesh for the final approval. Based on the CEO of YEIDA known as Arunvir Singh, its chairperson named Prabhat Kumar had requested the state government for offering the Authority that has been chosen as a nodal authority for this airport project, along with some amounts so that the land acquisition can be smoothly kick-started.

On the dated 1st August, the government of UP had made a decision that YEIDA will be a nodal agency for this project as well as it would operate on behalf of the UP to begin acquiring space for this airport project. The money for an initial phase of this project is to be offered by the state government. This Jewar Airport Project is also proposed to be built in 3 phases on the land of 3,000-hectares.

In the initial phase, around 1,250 hectares of land will be needed. For acquiring this land, the YEIDA will need roughly about Rs 3,000 crore. The authority of Yamuna has also begun the task of hiring a consultant for preparing the techno-feasibility report. This techno-feasibility report includes land survey, technical issues, and impact on the ecology related to this project.