CURRENT AFFAIRS

Detailed explanation-1: -Work on the first phase of the Noida International Airport (NIA) at Jewar in the Indian state of Uttar Pradesh has reportedly attained 20% completion. Of the Rs57bn allocated for the first phase, 29.5% has been spent, reported Hindustan Times citing Noida International Airport Limited (NIAL) officials.

Detailed explanation-2: -Prime Minister Narendra Modi in November last year laid the foundation stone of Noida International Airport (NIA) in Jewar, Gautam Buddha Nagar, Uttar Pradesh. The development of the first phase of the airport is being done at a cost of over ₹ 10,050 crore.

Detailed explanation-3: -Jewar Airport project cost This massive airport project would require an estimated capital expenditure of around Rs 15,755 crore. Phase 1 will require around Rs 3,745 crore, Phase 2 around Rs 3,537 crore, Phase 3 around Rs 4,079 crore, and Phase 4 around Rs 4,384 crore.

Detailed explanation-4: -The Zurich Airport and NIAL (Noida International Airport Limited) signed a shareholder agreement for the Jewar Airport development. The project will be. YIAPL (Yamuna International Airport Private Limited), a subsidiary of Zurich International Airport, will undertake the project.

Detailed explanation-5: -In November 2019, the Swiss firm Zurich Airport International AG (ZAIA) won the contract to build and operate the airport in Greater Noida for a period of 40 years, which includes construction period of four years in the first phase.