Yamuna International Airport Pvt Ltd (YIAPL), a fully-owned subsidiary of Zurich Airport International responsible for development of New Noida International Aiport in Jewar, has reached financial close for the project. YIAPL signed a finance agreement with State Bank of India (SBI) and Noida International Airport Limited, under this agreement SBI will provide INR37.25 billion (US$501.91 million) debt with tenor period of 20 years with one-year moratorium post completion of the project.
The first phase of the airport is scheduled to be operational by 2023 with a capacity to handle 12 million passengers. The second phase is intended to be finished by 2031 while the third and fourth phases are due by 2036 and 2040, respectively. Once the fourth phase is completed the airport will have the capacity to handle 70 million passengers.