The shareholder agreement between Zurich Airport International AG (ZAIA) and Noida International Airport Limited (NIAL) was signed recently in Lucknow for the development of Noida International Airport.
Arunvir Singh, CEO NIAL, and Christoph Schnellmann, CEO, Yamuna International Airport (YIAPL), signed the agreement in the presence of the chief minister of Uttar Pradesh, Yogi Adityanath; Rajendra Kumar Tiwari, chief secretary, Government of Uttar Pradesh; and S.P. Goyal, additional chief secretary, Government of Uttar Pradesh.
According to the agreement, NIAL will hold one golden share in 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 NIAL, and Vishak Iyer, director civil aviation, Government of Uttar Pradesh.
The agreement also underpins the state government’s support to establish and enhance surface access to the airport, establish and expand utilities required to run the airport (water, electricity, wastewater), maintain law and order, including monitoring at the airport and grant the necessary clearances to build and operate the airport.
Yogi Adityanath, chief minister, Government of Uttar Pradesh said:
“The signing of the shareholder agreement is the next step in the direction of progress for the state. Noida International Airport will be the benchmark for a modern, world-class airport in India. It will accelerate the development of industrial infrastructure, boost tourism, promote exports, ease air traffic and lead to creation of more jobs in the state.
” It will generate multi-dimensional progress, leading to economic development in Uttar Pradesh”.
Arunvir Singh, chief executive officer, NIAL said:
“The shareholder agreement with Zurich Airport International AG (ZAIA) is yet another stride towards developing a truly world-class airport in Uttar Pradesh.
“We all are eagerly awaiting the beginning of construction of the airport, which will herald economic growth and job opportunities in the state. We are confident that NIA will be the benchmark for a digital, sustainable and state-of-the-art airport not only for the state but for the whole country”.
Daniel Bircher, chief executive officer, Zurich Airport International AG said:
“We are pleased to sign the shareholder agreement, which strengthens the partnership between ZAIA and NIAL. The Noida International Airport will be an engine of economic growth for India and Uttar Pradesh, stimulating residential and industrial activities in the catchment area as well as the development of cargo and logistics cluster in the NCR region.
“This agreement reaffirms UP government’s commitment to provide road and rail connectivity along with other various utilities and to ensure safety and security for the upcoming Noida International Airport.”