In a recent development, Price Waterhouse Cooper (PwC), the consultant appointed to prepare the techno-feasibility report of Jewar Airport has submitted the concessionaire agreement to the Yamuna Expressway Industrial Development Authority (YEIDA) on Monday.
According to senior officials, YEIDA will now study the agreement and its legalities for a week and then will send the document to the state civil aviation department for the approval from the project monitoring and implementation committee. It is said that the process will take about a month’s time.
Giving more information on the above, Arun Vir Singh, YEIDA CEO said, “The Jewar concessionaire agreement has been submitted by PwC. Now, YEIDA will examine it and do a few changes, if required. After the committee’s approval, the document will go to the cabinet for government approval. All this will take about a month’s time. However, Land acquisition process will continue,”
He further said that the PWC document contains regulatory mechanism according to prevailing laws and is the main bid document, which, when cleared, will ensure the successful bidder signs the Jewar airport project deal with the state government.
“The final document (from the civil aviation department) will be floated for global bidding for Jewar airport,” Singh added.
Just a few days back, UP government has released the first installment of Rs 250 crore to start the land acquisition process. As per the order issued by the state Govt, the funds have been released following the issuance of notification under Section 11 of the Land Acquisition Act. So, in accordance with the notification, the Govt has released 10% of the total projected value i.e. Rs 250 crores.