New Delhi: Zurich airport operator, Flughafen Zurich AG, will build and operate the Jewar Airport which will be Delhi-NCR’s third airport after Delhi’s IGI and Ghaziabad’s Hindon airport. Delhi International Airport Limited, Zurich Airport International AG, Adani Enterprises Limited and the Anchorage Infrastructure Investments Holdings Limited were the four developers that fulfilled the technical requirements.Also Read - PM Modi to Inaugurate National War Museum Near India Gate, Lay Foundation Stone For Jewar Airport, Open ASEAN Meet on Monday

Also Read - Modi likely to lay foundation stone for Jewar airport in Feb: Mahesh Sharma

The Noida International Airport Limited (NIAL), the nodal agency, floated the global tender on May 30. According to reports, Zurich Airport will now develop the Phase 1 of the Jewar Airport at an estimated cost of Rs 4,588 crore. Also Read - Jewar Airport to make Western UP Economic Hub

The Gautam Budh Nagar administration has so far acquired more than 80% of agricultural land for the airport and distributed Rs 2,490 crore among farmers. It needs to acquire another 1,239 hectares for this project. The process to acquire the remaining land is on in full swing, said officials.

The project site is 72 km from Indira Gandhi International Airport; 60 km from Noida & 70 km from Faridabad & Ghaziabad, about 48 km from Greater Noida, 65 km from Gurgaon and 130 km from Agra. It will connect to the Yamuna Expressway, allowing domestic and international tourists to reach Agra, Mathura and Vrindavan.

When Rajnath Singh was UP chief minister, he had proposed the airport in 2001. In between as the government changed, it was being mulled whether the site should be shifted to Agra.

“The capital investments associated with the first phase is expected to amount to roughly CHF 650 million during the construction period of approximately four years. The first phase will be able to accommodate around 12 million passengers per year. Besides the necessary capital investments in the infrastructure, Flughafen Zürich AG shall pay a fixed passenger fee to the state-owned authority starting on the sixth anniversary of the commissioning of the new airport. Flughafen Zürich AG currently holds 100% of the project,” reads a statement on the website of the Zurich airport.

This is, however, not the company’s first presence in India. It had shares at the Kempegowda International Airport.