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Zurich Airport Signs Shareholder Agreement for Noida International Airport

Progressing further towards the development of Noida International Airport (NIA), the shareholder agreement between Zurich Airport International AG (ZAIA) and Noida International Airport Limited (NIAL) was signed in Lucknow.

Arunvir Singh, CEO NIAL, and Christoph Schnellmann, CEO YIAPL, signed the agreement in the presence of Chief Minister of Uttar Pradesh Yogi Adityanath; Rajendra Kumar Tiwari, Chief Secretary, Government of Uttar Pradesh and S.P. Goyal, Additional Chief Secretary, Government of Uttar Pradesh.

As per the agreement, NIAL will hold one golden share in Yamuna International Airport Pvt Ltd (YIAPL) and the right to nominate two directors to the board. The directors to be added to the board will be Arun Vir Singh, CEO NIAL and Vishak Iyer, Director Civil Aviation, Government of Uttar Pradesh.

The agreement underpins the state government’s support to establish and continuously improve surface access to the airport, establish and expand utilities required to run the airport (water, electricity, wastewater), maintain law and order, including monitoring at the airport and grant the necessary clearances to build and operate the airport.

At the occasion, Adityanat,h said, “The signing of the shareholder agreement is the next step in the direction of progress for the state. Noida International Airport will be the benchmark for a modern, world-class airport in India. It will accelerate the development of industrial infrastructure, boost tourism, promote exports, ease air traffic and lead to creation of more jobs in the state. It will generate multi-dimensional progress, leading to economic development in Uttar Pradesh”.

Singh said, “The shareholder agreement with Zurich Airport International AG (ZAIA) is yet another stride towards developing a truly world-class airport in Uttar Pradesh. We all are eagerly awaiting the beginning of construction of the airport, which will herald economic growth and job opportunities in the state. We are confident that NIA will be the benchmark for a digital, sustainable and state-of-the-art airport not only for the state but for the whole country”.

Daniel Bircher, Chief Executive Officer, Zurich Airport International AG, said, “We are pleased to sign the shareholder agreement, which strengthens the partnership between ZAIA and NIAL. The Noida International Airport will be an engine of economic growth for India and Uttar Pradesh, stimulating residential and industrial activities in the catchment area as well as the development of cargo and logistics cluster in the NCR region. This agreement reaffirms UP government’s commitment to provide road & rail connectivity along with other various utilities and to ensure safety and security for the upcoming Noida International Airport.”

Bircher further added, “ZAIA is a committed partner for India’s growth, and we see tremendous opportunities to invest and support India’s national agenda through infrastructural development and job creation. We are invested in India’s aviation ecosystem and are working closely with the Government of Uttar Pradesh and Government of India to build a passenger friendly, digital and green airport with a seamless logistics ecosystem.”

 

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