NOIDA, March 29 -- Aiming to enhance the industrial sector in the vicinity of the upcoming Noida International Airport in Jewar, the Yamuna Expressway Industrial Development Authority (YEIDA) has planned to establish five industrial parks. Officials on Friday disclosed that land has been identified and funds are being allocated for land acquisition.
As per officials, these industrial parks are being developed in Sector 10, adjacent to the international airport. It will be developed along the 165km-long Yamuna Expressway which links Greater Noida to Agra via Mathura. "The Airport is expected to be operational by the end of 2024. This is the government's most anticipated project and we are making all efforts to ensure timely completion and maximise its benefits for the public," stated a senior YEIDA official. Officials informed that nearly 250 acres of land is needed to be acquired in Sector 10 to set up the industrial park. This initiative aims to attract various industrialists and entrepreneurs keen on setting up their ventures in the area.
"This will not only generate revenue but will also create jobs for thousands of people. The connectivity and development of the area will benefit the industries," the officer added.
YEIDA envisions transforming the airport vicinity into a significant industrial hub, attracting large corporations and manufacturing units. Planned facilities include an electric vehicle park, plastic processing park, footwear park, handicrafts park, and a transport hub.
The Uttar Pradesh government has sent out a notification to the Gautam Budh Nagar administration regarding the land acquisition process on February 4 this year. Suggestions for the acquisition of proposed land will be sought from the public under Section 15 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, the officer said.
YEIDA has already released Rs.3,550 crore to administration for the land acquisition for the airport's second phase. An additional Rs 1,400 crore is expected to be released soon for distribution among farmers.
The state government had in 2020 transferred 1,334 hectares in Jewar to Yamuna International Airport Private Limited (YIAPL), a 100% subsidiary of Zurich Airport International AG, which has been incorporated as a special purpose vehicle (SPV) for developing the Jewar airport. Phase 1, featuring one runway, is set to be operational by the end of 2024. For the second
phase, the Gautam Budh Nagar administration is acquiring 1,363 hectares for which all processes are completed and is now in the process of compensating farmers.
Published by HT Digital Content Services with permission from Millennium Post.