Noida: The Authority of Yamuna looks for loan of Rs 3,000 crore for Jewar airport project

Posted on Sep 11 2017

The YEIDA (Yamuna Expressway Industrial Development Authority), the nodal group for the international airport project of Noida in Jeware, next to the Yamuna Expressway of 165 km , has begun the process of organizing amount for this ambitious project.

To start with, the Yamuna authority has planned to organize Rs 3,000 crore from the agencies of Central government – NCRPB (national capital region planning board) and the HUDCO (Housing and Urban Development Corporation Limited).

The planning board of NCR that works under the urban development union ministry has the order to support and assist the mega infrastructure ventures in the region of the national capital. HUDCO that is under an administrative control of both the urban poverty alleviation and housing ministry works in urban and housing development fields.

The ministry of Union civil aviation on the dated 24th June has offered its approval for building a global Jewar Airport Project in Jewar. Currently, YEIDA requires roughly about Rs 2,000 crore to Rs 3,000 crore from the state government for acquiring the 1,000 hectares of farming land in an initial phase of this project.

Overall, the project needs 5,000 hectares. The government of UP has permitted the authority of Yamuna Expressway to get a financial assistance for this project. Arun Vir Singh, who is a chief executive officer of YEIDA said that “ Based on the procedure, the authority of Yamuna will get the space for this airport venture on behalf of UP government which will own the agricultural land. Hence, the government of UP has to get 3,000 crore loan for starting the acquisition of land. We will also meet the officials of HUDCO and NCRPB for the loan within two days.”
The government of UP will get the loan amount from these two agencies.

Singh said that “I have required the appointment of HUDCO and NCRPB officials for knowing about their rule for a loan as well as interest rate. Whichever agency offers the affordable loan assistance, we will confirm the same. The final decision of loan will be engaged by the government of UP because we will provide them all information about the interest, etc.”The authority of Yamuna has also begun the task of picking a consultant for preparing an airport which is techno-feasibility. The report of techno-feasibility includes a land survey, impact on the ecosystem and technical problems related to this project.
Singh said that “We trust to confirm the agency in the upcoming one month of time so that project work can start on the ground.”

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