Yamuna International Airport Pvt Ltd secures financing from SBI for development of Noida Airport

The Yamuna International Airport Pvt Ltd (YIAPL) has obtained the ultimate credit score sanction for Rs 3725 crore from the State Bank of India (SBI) for the development of Noida International Airport (NIA), it stated in a press release issued on Friday.

Christoph Schnellmann, the Chief Executive Officer of Yamuna International Airport Private Limited stated, “We are extremely delighted to partner with the State Bank of India, the country’s largest bank, for financing the development of the Noida International Airport. The entire loan of INR 3725 crore has been underwritten by SBI on a door-to-door loan tenor of 20 years. We look forward to working closely with SBI to develop NIA as a world-class airport in India. The project will not only boost the Indian economy but will also help in employment generation in Uttar Pradesh and Delhi NCR region”.

The funding is a vital milestone for the venture because it validates the monetary viability of the venture whereas additionally outlining the subsequent steps for the institution of the Noida International Airport.

The airport is being developed in shut partnership with the Government of Uttar Pradesh and the Government of India. UP authorities’s continued help of the venture has been very important within the course of to this point.

“YIAPL now looks forward to the conclusion of UP government’s resettlement and rehabilitation process and the start of construction of the airport. This partnership will bring progress to the state of Uttar Pradesh and will bolster the Indian aviation’s growth story,” YIAPL stated.

Zurich Airport International AG (ZAIA), a totally owned subsidiary of Flughafen Zurich AG, is the primary shareholder of YIAPL and is injecting Rs 2005 crore into the development of NIA.

With this important international direct funding, ZAIA consolidates its function as a number one world airport operator with expertise in three continents, benchmarked high quality and improvements and profitable world tasks. The funding substantiates ZAIA’s sturdy perception in India’s development story, and its dedication to speculate and help India’s nationwide agenda by way of infrastructural development and job creation. 

(With ANI inputs)

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