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
This is the story of Balvant Parekh, one of the first-generation entrepreneurs of post-independence India. Known widely as the Fevicol Man, Balvant launched Pidil...
Recently posted . 638 views . 3 min read
Governor E.S.L. Narasimhan flagged off the metro train from the Ameerpet metro interchange station towards L.B.Nagar in the city suburb just after noon on Monday....
Recently posted . 696 views . 1 min read
Over the Diwali few days of 2016, India's air quality was among the world's most exceedingly awful and somewhere around 40% and 100% more terrible in five n...
Recently posted . 576 views . 19 min read
For web check-in of a first-row seat, a passenger will have to pay Rs 800 extra, while a non-reclining seat in row 12, next to the emergency exit, will cost an addi...
Recently posted . 539 views . 2 min read
The new law likely to be called The Muslim Women (Protection) Rights on Marriage Act, 2017, and will be tabled during the Winter Session of Parliament.
Recently posted . 493 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
PANAJI: An 11-year-old Polish girl, who was brought up in India and was studying in Goa until a few weeks ago, has requested the prime minister a...
Recently posted. 502 views . 2 min read
The focus must be on enhancing rape conviction rates and taking steps to rehabilitate and empower survivors
Recently posted. 618 views . 0 min read
At a get-together in Delhi which was full of lawyers, I overheard this conversation:
A: Do you know of this (woman) lawyer who’s recently become qu...
Recently posted. 772 views . 32 min read
Recently posted . 267 views
Recently posted . 804 views
Recently posted . 2K views
Recently posted . 1K views
Recently posted . 1K views . 48 min read
Recently posted . 1K views . 87 min read
Krishna Sobti, legendary Hindi writer, passed away early this morning. She was 93.
Recently posted. 1K views . 0 min read
He was reacting to Union Minister Ravi Shankar Prasad’s tweet and statement that more militants were killed during NDA rule than in the UPA dispensation.
Recently posted. 540 views . 1 min read