The Indian government has granted “in-principle approval” for a greenfield airport at Jewar in the Greater Noida region, which will be delivered under a PPP model.
Civil Aviation Minister Ashok Gajapathi Raju said he expects 200 billion rupees ($3.1 billion; €2.7 billion) of total investment for the new Noida International Airport, located south of New Delhi.
He said the approval aims to meet the growing “flying requirements” of the National Capital region at a time when the existing Indira Gandhi International Airport is close to saturated.
Delhi is expecting 91 million passengers annually by 2020 and 109 million passengers by 2024, Raju told the local press at a briefing last week. The city’s existing airport, which has a capacity of 62 million users, handled 57.7 million passengers last year.
An area of 3,000 hectares has been notified for the new airport development, which will be carried out in several phases. The first will span across an area of 1,000 hectares with one runway, followed by three more runways at a later stage.
Scheduled to become operational in 2022, the new hub will serve up to 50 million passengers a year over the next 10 to 15 years.
The state government and the project implementing agency, the Yamuna Expressway Industrial Development Authority, will identify a concessionaire through an open-market auction and bear the cost of land procurement.
Four major aviation hubs in India are currently held by private investors, including domestic conglomerates GMR Group and GVK Group, as well as Fairfax India, a Canadian investment holding company. The latter acquired nearly half of Bangalore Airport from GVK in April, while GMR and GVK are presently working on delivering the North Goa and Navi Mumbai airport projects respectively.