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Thursday, February 29 2024

Yamuna Int’l Airport achieves financial closure for Noida project

Yamuna Intl Airport achieves financial closure for Noida project MAIN 7
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Yamuna Intl Airport achieves financial closure for Noida project MAINNew Delhi: Yamuna International Airport Pvt Ltd (YIAPL) on Tuesday achieved financial closure for the Noida International Airport (NIA) project.

The YIAPL signed financing agreements with the State Bank of India (SBI) and Noida International Airport Ltd for financial close for the project.

Till now, it has raised Rs 3,725 crore in debt from the SBI to be repaid over a period of 20 years with one-year moratorium post completion of the project.

This is one of the largest financings in an Indian greenfield airport, the company said.

“The financial close marks another crucial milestone for the project, bringing it closer to start of construction works,” it said.

“The project is being funded on a debt-to-equity ratio of 65:35. Zurich Airport International AG (ZAIA), a fully owned subsidiary of Flughafen Zurich AG, is the main shareholder of YIAPL and is injecting Rs 2,005 crore as equity into the development of Noida International Airport.”

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