The Greater Noida Industrial Development Authority (GNIDA) on Tuesday said it has allocated Rs 350 crore from its 2022-23 budget for the upcoming Noida International Airport's second phase development.
The announcement was made after the 126th board meeting of its Greater Noida office under the chairmanship of Uttar Pradesh Industrial Development Commissioner Sanjeev Mittal and GNIDA CEO Narendra Bhooshan.
The announcement came a day after the Noida Authority announced an expenditure of Rs 756 crore for the mega Greenfield airport in 2022-23 fiscal following its board meeting on Monday.
The Uttar Pradesh government is building the Greenfield airport, coming up in Jewar area of Gautam Buddh Nagar, on the public-private partnership model.
The UP government and the Noida Authority are both 37.50 percent share holders in the airport project. The GNIDA and the Yamuna Expressway Authority are both 12.50 per cent share holders in it, according to officials.
"The construction of the Noida Airport at Jewar is underway. Preparations are on to acquire the land for the second phase of the airport. In view of this, the GNIDA has made a provision of Rs 350 crore in the budget for the financial year 2022-23," the GNIDA said in a statement on Tuesday.
Separately, it said it has also set a budget of Rs 20 crore for the operation of the metro running between Noida-Greater Noida and Rs 10 crore for the construction of metro line in Greater Noida (West), also known as Noida Extension.
The Yamuna International Airport Private Limited (YIAPL), a 100 per cent subsidiary of Swiss firm Zurich International Airport AG, is developing the airport for the UP government.
The airport is billed to be the biggest in India after completion and will be spread over an area of 5,000 hectares. The first phase is spread over 1,300 hectare while another land parcel of over 1,100 hectare is required for the second phase, according to officials.
