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 the Honourable Chief Minister of Uttar Pradesh, Yogi Adityanath.
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 Dr. Arun Vir Singh, CEO of NIAL, and Mr. Vishak Iyer, Director of Civil Aviation, Government of Uttar Pradesh.
The shareholder agreement marks another important milestone for the Noida International Airport project and the much-awaited aviation infrastructure in the NCR region and Uttar Pradesh. Jointly committed, ZAIA and the UP Government are developing Noida International Airport as an upcoming world-class airport.
NIA is envisaged to become India’s f irst net zero-emission airport and is very pleased with the proactive stance taken by the UP government in its UP solar energy policy 2017. Last month, Yamuna International Airport Pvt Ltd (YIAPL) received the final credit sanction for INR 3725 crore from the State Bank of India (SBI) for the development of Noida International Airport (NIA).
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