UP to spend Rs. 40 bn on land acquisition on Jewar's Noida Airport.

The Uttar Pradesh government will spend Rs. 40 billion on land acquisition for the Noida international greenfield airport project near Jewar, officials said.

The State Civil Aviation Department will spend Rs. 1,500 while the Noida Development Authority will extend a matching amount.

The Greater Noida Authority and the Yamuna Expressway Industrial Development Authority (YEIDA) will be extending another Rs. 5 billion each, state government officials said after the state cabinet approved the spending.

About 1,441 hectares have been identified in the first phase of the project.

The airport is expected to start operation in 2022-23, with an initial capacity of six million passengers.

The state government had on May 29 signed a pact with YEIDA, Noida and Greater Noida Industrial Development authorities to expedite the project execution.

BS