Dedicated locality research platform
Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
The Yamuna Expressway Industrial Development Authority (YEIDA) is poised to initiate a global tender for the establishment of an Aircraft Maintenance, Repair, and Overhaul (MRO) facility at the Noida International Airport in Jewar. This development is anticipated to occur by the end of October.
YEIDA officials report that the land acquisition process for the second phase is progressing rapidly, with nearly 814 hectares secured out of the targeted 1,365 hectares which is approximately 60% of the total land requirement. This acquired land will be dedicated to the development of the MRO facility and an exclusive runway.
The land acquisition encompasses regions including Jewar Bangar, Tirthali, Dhanpura, Madalpur, Mahndipur, Faileda, and Karauli, among others. YEIDA has already disbursed Rs 2,800 crore in compensation for the acquired 814 hectares of land.
Arun Vir Singh, CEO of YEIDA, emphasizes the need for such an MRO facility by highlighting the burgeoning growth expected in India's aviation sector. Presently, India is hosting around 600-700 passenger aircrafts. Singh envisions a surge in the number of passenger aircraft to 2,400-2,500 in the next three to four years. A dedicated MRO facility is necessary to effectively maintain and repair this expanding fleet of planes.
The second phase of the Noida International Airport in Jewar also includes a dedicated runway and provision for small aviation industrial units to support the functioning of the MRO. To aid this development, the Uttar Pradesh government has introduced an MRO policy offering a subsidy of Rs 12 crore to eligible players. Furthermore, players in this sector will benefit from a 10-year GST exemption. The policy also outlines provisions for land-related subsidies. These proactive measures taken by YEIDA align with the strategic vision to position Noida International Airport as a comprehensive aviation hub, catering to the escalating demands of India's aviation landscape.
In conclusion, the upcoming global tender for the MRO unit at Jewar airport signifies a significant step towards fortifying India's aviation infrastructure. The incorporation of a state-of-the-art MRO facility is instrumental in bolstering the airport's capabilities and fostering growth in the aviation industry in India.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
