The Uttar Pradesh State Government allocated Rs. 2000 crores for the construction of the proposed Jewar International airport in Gautam Budh Nagar. The State Government released this fund while presenting the Budget for the upcoming financial year 2020-21. The UP Government passed a total budget of Rs. 5,12,860.72 crores for the next fiscal.
The Jewar greenfield airport is spread across 5,000 hectares of land and will be developed in a phase-wise manner. The overall construction cost of this airport estimated to cost Rs. 29,560 crores and the first phase will be developed at an approximate cost of Rs. 4,588 crores.
NIAL i.e. Noida International Airport Limited will construct the proposed Jewar international airport by 2023. The Jewar airport is planned to have six to eight runways.
The UP Government formulated the Noida International Airport Limited [NIAL] and it has several stakeholders including the Noida Authority with 3.75%, GNIDA [Greater Noida Industrial Development Authority] with 12.5% and YEIDA [Yamuna Expressway Industrial Development Authority] has 12.5% shares. The State Government holds the remaining 37.5% shares in NIAL.
In January this year, the Gautam Budh Nagar district administration completed acquisition of remaining land that covers an area of 18.5 hectares from the farmers for the first phase of Jewar International Airport.
Earlier to this, Zurich Airport International won the bid to develop the upcoming Jewar International airport. After winning the bid, the officials of Zurich Airport International said that the work on the project will commence soon.