Delhi NCR’s 2nd International Airport To Be Developed By Europe’s 4th Best Zurich Airport
Thursday, March 12, 2020 IST
We all know Delhi NCR is getting its second airport to manage ever-growing transit traffic. Now we also know Zurich Airport will be developing the project! Noida is set to see its first airport. By 2024, IGI airport’s capacity is expected to be saturated with over 10 crore passengers annually. The aviation ministry has had this one on the cards for a long time but recently preponed plans of development. The only question that remained was which giant will get to reap the benefits of laying this seed.
What is it
Delhi NCR’s second airport in Jewar will be the country’s biggest, twice the size of the original 5,100 acres in Gurgaon. With 8 runways and technology that’s ahead of its time, this project will be defining for Uttar Pradesh and Delhi NCR. Noida-Greater Noida will transform into a hub of business, tourism, and probably hotels and entertainment too. What’s certain is that real estate will see a boost, pushing it light years into the future in just a few years. The first international airport of the capital has already proved what it does to the surroundings. Aerocity has turned into the city’s hub for luxury, travel and food. In all probability, Noida will be no different. That’s bound to change things around in terms of safety, traffic and governance. This has huge implications, but today we are focused on who gets to usher in the future.
Who’s who
IGI Airport’s developer, GMR and India’s king Adani both had to kneel before Europe’s fourth best airport’s winning bid. GMR Group-led DIAL had the right of first refusal. They offered revenue share of ₹351 per passenger. Adani Group offered ₹360 and Switzerland’s Zurich Airport bid ₹400.97. They will be investing ₹4,663.731 crore for the first phase of development by 2023. There was another bidder. Anchorage Infrastructure Investments Holdings Ltd offered ₹205 per passenger. It’s an unlisted public company from Mumbai that was born in June 2019, with the total paid up capital of ₹6.15 crore. This is not Zurich Airport’s first project in India. It sold its last shares of Bangalore Airport in 2017.
Jewar Airport will be under a 40-year contract with Zurich Airport. The project was announced in 2001 and real estate developers jumped at the chance to procure land that would surely boom. The time seems to have come but development will be on hold until visible signs of construction activity make a dent in Jewar. They’re wary of oversupply and want to be certain of return at par with IGI airport’s vicinity. By 2031 Jewar Airport is expected complete phase 2 of development and see 3 crore passengers annually; by phase 3 in 2036, 5 crore; and by phase 4 in 2040, 7 crore. At least that’s the plan, but land will be have to acquired from innocent farmers and we all know how brutal that is. Relocation of those harmed, to a good site at the earliest, is a major concern too.
We’re excited to see how the government and developers play this out! Travel to Delhi is surely going to become a breeze one way or another.
Related Topics
Related News & Articles
The Beating the Retreat ceremony that is held daily at the at Attari-Wagah Border will not be held on Friday as Wing Commander Abhinandan Varthaman is expected to...
Recently posted . 695 views . 2 min read
The central service recruiter, Union Public Service Commission (USPC), will now conduct the recruitment exams directly for the Indian Railway Management Services.
Recently posted . 495 views . 1 min read
The pod hotel has been targeted to start services by the month of December 2020, according to IRCTC. The pods will be constructed within the first six months after ...
Recently posted . 936 views . 1 min read
With eSIM, users can connect across devices in the Google ecosystem -- from Android smartphones to Chromebooks to Wear OS smartwatches.
Recently posted . 835 views . 1 min read
After receiving her award, Saalumarada Thimmakka also planted a sapling at the Rashtrapati Bhavan.
Recently posted . 922 views . 1 min read
Trending News & Articles
While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content.
...
Recently posted . 61K views . 1 min read
The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...
Recently posted . 8K views . 1 min read
Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million.
Rahul and his girl friend was th...
Recently posted . 7K views . 7 min read
True – Tr...
Recently posted . 6K views . 83 min read
More in National
If you’re shy or someone with an INFJ personality, you know all too well the challenges that come with this personality type, especially in the realm of datin...
Recently posted. 698 views . 4 min read
There are many animals and human relationships that we come across every day. The most common ones are, of course, with dogs and cats, but you can often see strange...
Recently posted. 665 views . 2 min read
At Taiwan’s National Palace Museum Southern Branch in Taibao, children can join the Ramayana battle and attack Ravana to save Sita with an interactive game de...
Recently posted. 682 views . 1 min read
Recently posted . 842 views
Recently posted . 691 views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views . 126 min read
Recently posted . 1K views . 31 min read
The Ryan's World merchandise will be sold exclusively at more than 2,500 Walmart stores in the United States and on the Walmart.com
Recently posted. 719 views . 1 min read
Shah Rukh Khan is shirtless. On a typical Bombay afternoon, he is Ram Jaane, a cynical criminal in a film with the same name. A thick gold chain, knotted at the n...
Recently posted. 996 views . 3 min read