Noida International Limited: Asia's Largest Airport Will Be Built Here, Decision Taken To Build on 1k Acres

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Noida International Limited: Asia's Largest Airport Will Be Built Here, Decision Taken To Build on 1k Acres

Noida International Limited: On 1,000 acres of land, Noida International Airport Limited (NIL) will create aircraft spare parts, complete aircraft assembly and manufacturing units. For this, many foreign companies including America are also eager to set up their branches.

Asia's largest airport

Noida International Airport Limited (NIL) has decided to build an aviation manufacturing hub on 1,000 acres of land. Which is under construction in the city. This will make Noida International Airport the largest airport in Asia, giving a new identity to India's aviation sector.

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The process of acquiring 1,365 hectares of land is underway to develop maintenance repair, overhaul (MRO) and aviation hub at Noida International Airport.

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FDI policy will benefit foreign companies

Arunveer Singh said that the latest FDI policy by the UP Cabinet will benefit foreign companies. They will get 75 per cent land subsidy under the FDI policy, capital subsidy up to Rs 100 crore, 100 per cent state GST reimbursement for 10 years, and Rs 5,000 on patent, training and skill upgradation to 500 individuals for 7 years . do. There will be exemption from customs duty even on importing goods from foreign countries. He said that this is an aviation sector. And there is a good opportunity for foreign investment.

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Besides, foreign companies have also got opportunities. PwC has been entrusted with the task of developing the aviation manufacturing industry at Jewar International Airport. A meeting of the Nile Board will be called once the layout is completed to decide on the plan. Its arrival will open up countless job opportunities.

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Each unit will cost five acres

YEDA (Yamuna Expressway Industrial Development Authority) CEO Arunveer Singh said that Asia's largest airport is being built in Noida. Here, aircraft of other countries including India can be repaired from the aircraft repair hub. India still has to repair the planes outside. 1365 hectares of land is being acquired for the second phase of Noida International Airport. It will develop as an aviation hub and Maintenance Repair and Overhaul (MRO).

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"Nile" has decided to become a tourist hub. The 1,000-acre land will be divided into units of 5 by 5 acres, with some larger sized land also given for langars. For this, an aviation manufacturing plan will soon be made, in which aircraft assembly, engine manufacturing companies, nozzle manufacturing companies and other aircraft equipment manufacturing companies will create their units. The US Embassy has talked to several businesses.

Superfast News Coverage By Team

Publish Date: November 4, 2023

Posted By Sunil

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