The Hindu Business Line : Greater Noida airport project put on fast track

New Delhi, July 5 The Ministry of Civil Aviation has decided to put the proposal for the Greater Noida airport project on the fast track for speedy implementation of the project.

The decision has been taken after receiving a techno-feasibility study and project report from the Government of Uttar Pradesh, according to an official release.

The project cost is estimated at Rs 3,505 crore as per the feasibility report submitted by the State Government.

Project sponsor

According to the plans, the Taj Expressway Authority (TEA) would be nominated as the sponsor of the project and the TEA would acquire the land in accordance with the policy of the UP Government.

The project would be implemented through a special purpose vehicle (SPV) which would be a joint venture with a private party to be selected through a competitive bidding process.

Equity pattern

The private party will hold 74 per cent stake in the joint venture, while the State Government will hold 13 per cent through the sponsor and the remaining 13 per cent would be held by other Government agencies such as the Airports Authority of India.

The site

The proposed site for the project is nearly 72 km from Delhi and 120 km from Agra and approximately 1,500 hectares of land had been identified for the construction of the project.

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