NEW DELHI: The Yamuna Expressway Industrial Development Authority (YEIDA) will acquire 5,000 hectares of land near the upcoming international airport at Jewar to boost the real estate in the region, Nand Gopal Gupta ‘Nandi’, minister for industrial development in the Uttar Pradesh government, told ET.
The airport is likely to be operational later this year,.
The state is already in the process of executing several projects in the region, including a film city, a medical device park, a logistics park and a data centre park.
“Asia’s biggest airport is coming up in UP and we want to make sure it enhances the economic activity of the entire state. The Yamuna authority has already prepared a detailed plan and is allotting land for various activities. We will further add land to ensure development in a seamless manner,” said Nandi, who is also the minister for export promotion, NRI and investment promotion.
Last year, the Yamuna authority signed a concession agreement with Bayview Bhutani Film City, a special purpose vehicle (SPV) that will develop a film city in Noida.
“The upcoming international airport at Jewar is an ambitious project for Uttar Pradesh and the entire northern region. We expect the airport to be a major catalyst towards the growth of industrial and logistic sectors. The government is already witnessing significant demand for all kinds of land parcels. Cognizant of the requirement, we have prepared a draft master plan 2041 and we envisage acquiring 5,000 hectares of land in and around Jewar airport at the earliest,” said Nandi.
Of this, around 1,040 hectares will be utilised for industrial development and an additional 178 hectares will be earmarked for development of a logistics park.
