Noida Authority has given approval for releasing Rs 1,069.50 crores for Jewar Airport
The Noida Authority announced that it will release its share of funding for the upcoming international airport at Jewar, according to an official statement released after its 196th board meeting. “The Authority has given an in-principle approval for releasing funds of Rs 1,069.50 crores, for the construction of Noida International Greenfield Airport at Jewar. The funds will be used for land acquisition and providing compensation to farmers, the lands of whom have been acquired by the Authority, for construction of the airport project,” it said.
The Uttar Pradesh government and the Noida Authority will contribute Rs 1,500 crores each as their stake in a company, which has been chosen to supervise the airport project, while the Greater Noida and the Yamuna Expressway authorities will stake Rs 500 crores each as their contribution in the project.