New Delhi: The construction for the Jewar International Airport in Greater Noida will begin before the 2019 general elections with the Uttar Pradesh government having approved the setting up of a joint venture company to acquire 1,441hectare of land for the project at a cost of nearly Rs 4,000 crore.
The Centre has cleared the site for the project and the ministries of home and defence have given their no objection certificates along with an in-principle clearance for immigration services, a senior UP government official told ET.
Further, an order issued by the UP government last week, which was accessed by ET, says the joint venture company will be empowered to obtain the said land by either of the two procedures as required -- “by land acquisition through the provisions of the Land Acquisition Act, or directly by mutual agreements with the land owners”.
The latter procedure is quicker but the government has to pay more. The JV company will have 37.5% shareholding of the UP government, a similar shareholding of the Noida Development Authority, and 12.5% shares apiece for Greater Noida Development Authority and the Yamuna Expressway Industrial Development Authority.
03/05/18 Aman Sharma/Economic Times
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The Centre has cleared the site for the project and the ministries of home and defence have given their no objection certificates along with an in-principle clearance for immigration services, a senior UP government official told ET.
Further, an order issued by the UP government last week, which was accessed by ET, says the joint venture company will be empowered to obtain the said land by either of the two procedures as required -- “by land acquisition through the provisions of the Land Acquisition Act, or directly by mutual agreements with the land owners”.
The latter procedure is quicker but the government has to pay more. The JV company will have 37.5% shareholding of the UP government, a similar shareholding of the Noida Development Authority, and 12.5% shares apiece for Greater Noida Development Authority and the Yamuna Expressway Industrial Development Authority.
03/05/18 Aman Sharma/Economic Times
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