The Tatas will build the Noida International Airport, the country’s largest, beating two other bidders — L&T and Shapoorji Pallonji — to the contract. Tata Group’s infrastructure and construction arm, Tata Projects, has bagged the contract to construct the airport at Greater Noida’s Jewar in Uttar Pradesh.
Tata Projects will construct the terminal, runway, airside infrastructure, roads, utilities, landside facilities and other ancillary buildings at the airport, Yamuna International Airport Private Limited (YIAPL) said in a statement on Friday.
YIAPL is a 100 per cent subsidiary of Swiss developer Zurich Airport International AG and has been incorporated as a special purpose vehicle to develop Noida International Airport.
In 2019, Zurich Airport International AG won the bid to develop the airport. The Uttar Pradesh government signed the concession agreement with YIAPL on October 7, 2020, to build the airport.
The greenfield facility, spread over 1,334 hectares, will have a single runway operation in the first phase with a capacity to handle 12-million passengers per annum.
With the closure of the EPC contract, the first phase of the airport is on track to be delivered within three years of the commencement of the concession period, YIAPL said.
AI buyout
Singapore’s competition commission on Friday said it has raised concerns with the Tata Group over its acquisition of Air India as the conglomerate now owns two of the three key airlines that operate flights on Singapore-Mumbai and Singapore-Delhi routes, reports PTI.
Air India, Vistara and Singapore Airlines are the three key airlines that operate on the two aforementioned routes. Vistara’s 51 per cent stake is held by the Tata Group and the remaining 49 per cent is with Singapore Airlines.
Talace Private Limited, a subsidiary of the Tata Sons Private Limited, took control of Air India on January 27, 2021, after successfully winning the bid for the airline last year.
In a statement on Friday, the Competition and Consumer Commission of Singapore (CCCS) said it has raised competition concerns with Talace Private Limited on the transaction (Tata’s acquisition of Air India) based on information received from Talace and third parties.