News
Zurich Airport’s arm signs shareholding agreement with NIAL
The subsidiary of Zurich International Airport AG has signed a shareholding agreement with Noida International Airport Limited (NIAL), the Government’s special purpose vehicle for the airport project in Jewar. The deal was signed in the presence of UP Chief Minister Yogi Adityanath in Lucknow.
NIAL will own the golden share in Yamuna International Airport Pvt Limited (YIAPL), the subsidiary that will develop and operate the airport. A golden share will provide veto power to the UP Government and ensure no hostile takeover of the company takes place.
“The Noida International Airport will accelerate the development of industrial infrastructure, boost tourism, ease air traffic and create more jobs in the state. Airport operations will generate a multi-dimensional progress, leading to the economic development of UP,” the Chief Minister said.
The title of 1,334 hectares, the land required for the first phase of the project, was transferred to NIAL on July 17. NIAL will now issue the licence to YIAPL to start construction and authorise it to use the land for the 40-year concession period.
-
News4 weeks ago
Godrej Properties Sells Rs 3k cr+ Homes of Godrej Zenith, Gurugram, within 3 days
-
News4 weeks ago
RBI’s Status Quo on Key Policy Rates to Help Maintain the Real Estate Growth Momentum, Say Industry Stalwarts
-
News2 weeks ago
Noida’s High-Rise Societies Face Multiple Challenges Despite Rapid Urban Growth
-
News3 weeks ago
Olive Announces Dhruv Kalro as Co-Founder
-
News4 weeks ago
Godrej Properties Sells 5000+ Homes of Rs 9.5 cr in Q4FY24, Bookings up 84% YoY
-
News3 weeks ago
Vestian: Domestic Investors Dominate Institutional Investments in Jan-Mar’24
-
News3 weeks ago
India to become the fastest-growing silver economy, housing up to 17% of the world’s elderly population by 2050: CBRE Report
-
News4 weeks ago
HRERA Gurugram Rejects Godrej Properties’ Project Extension Application, Account Frozen For Prolonged Non-compliances