SBI to give Rs 3,725cr for Noida airport project

Noida: The Jewar airport project is picking up steam, with the country’s largest public sector bank sanctioning over Rs 3,700 crore for the subsidiary of concessionaire Zurich Airport International to build and develop the greenfield airport. With the required funds in place, the foundation stone laying ceremony for the project can happen within a few weeks.
TOI had earlier reported that Yamuna International Airport Private Limited (YIAPL) would need Rs 5,730 crore for developing the first phase of the Jewar international airport project.The company wanted to fund the project while maintaining a debt to equity ratio of 65 to 35. So, while YIAPL will give Rs 2,005 crore, the additional Rs 3,725 crore will be provided by the State Bank of India (SBI). YIAPL CEO Christoph Schnellmann said: “We are delighted to partner with SBI for financing the development of Noida International Airport. The entire loan of Rs 3,725 crore has been underwritten by SBI on a door-to-door loan tenure of 20 years. The project will not only boost the Indian economy but will also help in employment generation in Uttar Pradesh and NCR.”
The township in Jewar Bangar to rehabilitate residents of seven villages affected by the airport project will also be ready by June 30, officials said. The villages are Rohi, Parohi, Ranhera, Dayanatpur, Kishorpur, Banwaribas and Kureb. Kureb was the latest one to be added to the list after authorities decided to acquire additional 16 hectares for a maintenance, repair and overhaul centre.
As only one access road is there for the township, some villagers have demanded another route. “The only way to reach the township is via Jewar-Tappal road. The ones staying towards the end of the township have to travel a lot to reach the road. We want an alternative route,” said BD Sharma from Dayanatpur. Additional district magistrate (land acquisition), GB Nagar, Balram Singh, said, “Some villagers feel having a single access will be beneficial in the long run for security purposes. We will talk to the elderly members in the villages before deciding anything.”