In order to kick start the work of Jewar airport, Yamuna Expressway Industrial Development Authority (YEIDA) recently held a meeting with representatives of leading financial institutions and banks regarding funds for the proposed international airport.
According to sources, in the end of the meeting it was decided to finalise a bank or any other financial institution quickly that would offer a loan at an attractive interest rate for the project.
Arun Vir Singh, CEO, YEIDA said, “We are in talks with the bankers and hope to get a good interest rate for the project. Once we have finalised the bank, we will forward a proposal to the state government for approval.”
Apart from this, YEIDA is also in process of identifying a company to study modes of means of alternative connectivity between the Delhi and Jewar airports.
Giving information on this Singh said, “A Request for Proposal will be initiated soon to invite companies to participate in the process. The company will be selected within a month to study the modes of connectivity.”
Currently, driving between IGI airport and Jewar takes over two hours and that’s why a direct transport link between the two will play an important role. The projected route will be based on demand assessment, public affordability, population, transport network, regional connectivity, traffic data, the NCR planning board plan 2032 and so on.
It has been expected that the Indira Gandhi International Airport (IGIA) will reach its saturation point with a 100-million passenger count by 2024-25, which will give rise to the need for a second airport in NCR. The civil aviation ministry expects Jewar airport to give a boost to connectivity in the whole of western Uttar Pradesh, which will in turn increase tourism and economic potential of the region.