Flughafen Zürich AG, the operator of Zurich Airport in Switzerland, has won the bid to build and manage the new greenfield airport in Jewar, Uttar Pradesh.

The company competed with the likes of Gujarat-based Adani Enterprises, Maharashtra based-Anchorage Infrastructure Investments Holdings and Delhi International Airport (DIAL) to acquire this project.

Situated around 80 km south of Delhi, the Jewar Airport, also known as the Noida International Airport will reduce the load on Delhi’s Indira Gandhi International Airport.

It will simultaneously cater to the rising air traffic in the National Capital Region (NCR) which includes cities such as Ghaziabad, Faridabad, Gurugram and Noida.

The capital investment is expected to be around SFr 650 million, during phase one, which will be completed in a span of four years; and shall accommodate up to 12 million passengers per year.

Apart from the required capital investment, Flughafen Zürich AG will pay a fixed passenger fee to Noida International Airport Company Limited (NIAL), a state-owned authority that is overseeing the airport project management.

This is the second big venture for Flughafen Zürich AG in India — prior to this, the airport operator held a certain percentage of equity capital in Kempegowda International Airport Bengaluru, but sold all of them by 2017.

Currently, Flughafen Zürich AG is involved in the functioning of four airports in Brazil, two in Chile, one in Bogotá and another one in Curaçao. Apart from India, Indonesia and the Philippines are among the future focus markets for the company.

Commenting on their new airport project in India, Flughafen Zürich AG says, “With the award of the concession for the new Noida International Airport, Flughafen Zürich AG will participate in the expected growth of the Indian aviation market and will implement its best practices developed in Switzerland while maintaining the local Indian values.

“Flughafen Zürich AG is committed to offer the highest service quality to the passengers, airlines and other involved stakeholders in the new Noida International Airport.”