Zurich airport signs shareholder agreement with NIAL for development of Noida airport

The Zurich Airport International has signed a shareholder agreement with the Noida International Airport Limited (NIAL) in Lucknow for the development of the Noida International Airport at Jewar.
As per the shareholder agreement, NIAL will hold one golden share in Yamuna International Airport Pvt Ltd (YIAPL) and the right to nominate two directors to the board.
YIAPL is a wholly-owned subsidiary of Zurich Airport International AG, incorporated as a special purpose vehicle (SPV) to develop the greenfield Noida International Airport.
The two directors who will be part of the board are Arun Vir Singh, chief executive of NIAL, and Vishak Iyer, Director Civil Aviation, Government of Uttar Pradesh.
The Zurich Airport will design, develop and operate the new greenfield airport in Jewar under a 40-year concession.