UP: Boost For Upcoming Jewar International Airport In Noida As SBI Sanctions Credit Of Rs 3,725 Crore For The Project

In a boost for the upcoming international airport in Greater Noida's Jewar, the Yamuna International Airport Private Limited (YIAPL) has received the final credit sanction for Rs 3,725 crore from the State Bank of India (SBI), reports Livemint.

Sharing the development regarding the financing of Noida International Airport (NIA), YIAPL's chief executive Christoph Schnellmann said, "We are extremely delighted to partner with the State Bank of India, the country's largest bank, for financing the development of the Noida International Airport."

Schnellmann added, "We look forward to working closely with SBI to develop NIA as a world-class airport in India. The project will not only boost the Indian economy but will also help in employment generation in UP and Delhi NCR region."

SBI has written the entire loan of Rs 3,725 crore on a door-to-door tenor of 20 years.

It should be noted that YIAPL's majority shareholder is Flughafen Zurich AG which is a fully-owned subsidiary of Zurich Airport International AG (ZAIA). ZAIA has injected a total of Rs 2,005 crore into the development of NIA.