Noida, Greater Noida authorities to invest Rs 1,812 crore for Intl' airport

The Noida Authority has decided to release Rs 1,359 crore and the Greater Noida Authority Rs 453 crore for establishment of the Noida International Airport, according to official statements.

The Noida Authority and the Greater Noida Authority are 37.5 per cent and 12.5 per cent shareholders, respectively, in the Greenfield airport being built as a public-private partnership project.

Besides them, the Uttar Pradesh government holds a 37.5 per cent stake in the project while the Yamuna Expressway Authority has another 12.5 per cent share in it.

The decision for the release of funds were taken during the board meetings of the Noida Authority and the Greater Noida on Wednesday.

Uttar Pradesh Infrastructure and Industrial Development Commissioner Arvind Kumar had chaired the meetings in presence of Ritu Maheshwari, the CEO of both the authorities.

"For the establishment of the Noida International Airport, it was decided by the Noida Authority to give the balance due amount of Rs ...