The Uttar Pradesh government will spend Rs 4,000 crore 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 500 crore 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 60 lakh 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.
Uttar Pradesh Civil Aviation Minister Nand Gopal Gupta had earlier said that concessionaire for setting up the airport under public-private partnership model will be selected via global bidding mechanism.
The nodal agency, YEIDA, is in the process of preparing bid document for selection of the concessionaire, and the bidding process is likely to commence by July-end, the officials said.
According to the Technical Economic Feasibility Report (TEFR), the airport project is expected to generate about one lakh employment opportunity.
The airport project received in-principle approval from the Centre on April 23. The foundation-laying ceremony is likely to be performed towards October-end.
Apart from the socio-economic benefits in National Capital Region, Jewar airport is expected to ease the pressure on Indira Gandhi International Airport in Delhi.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)