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YIAPL secures loan from SBI to Noida Airport

New Delhi [India], June 5 (ANI): Yamuna International Airport Pvt Ltd (YIAPL) received final credit sanctions of Rs 3.725 billion from the State Bank of India (SBI) for the development of Noida International Airport (NIA). It was. A statement released on Friday.

Christoph Schnermann, Chief Executive Officer of Yamuna International Airport Private Limited, said, “We are very pleased to partner with State Bank of India, India’s largest bank, to finance the development of Noida International Airport. Undertaken by the SBI for a 20-year door-to-door loan period. We look forward to working closely with the SBI to develop NIA as India’s world-class airport. This project is India. Not only does it boost the economy, it also contributes to job creation in the Uttar Pradesh and Delhi NCR regions. “

Financing is an important milestone for the project as it validates the financial feasibility of the project and outlines the next steps towards the establishment of Noida International Airport.

The airport is being developed in close cooperation with the Government of Uttar Pradesh and the Government of India. In the process so far, support for the UP government’s ongoing projects has been essential.

“YIAPL is currently looking forward to the completion of the UP Government’s resettlement and reconstruction process and the start of airport construction. This partnership will bring progress to Uttar Pradesh and strengthen the growth story of the Indian aviation industry. Masu “

Zurich Airport International AG (ZAIA), a wholly owned subsidiary of Flughafen Zurich AG, is a major shareholder of YIAPL and has invested Rs 2005 billion in the development of NIA.

With this significant foreign direct investment, ZAIA strengthens its role as a world-leading airport operator with experience on three continents, standards of quality and innovation, and successful global projects. This investment embodies ZAIA’s strong belief in India’s growth story and ZAIA’s commitment to invest in and support India’s national challenges through infrastructure development and job creation. (Ani)

YIAPL secures loan from SBI to Noida Airport

Source link YIAPL secures loan from SBI to Noida Airport

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