Saraf and Partners advised SBI for financing construction, development of Noida International Airport at Jewar

LE Desk

New Delhi, August 13, 2021: Saraf and Partners (S&P) recently advised the State Bank of India for financing the construction and development of the Noida International Airport at Jewar, in Uttar Pradesh’s Gautam Buddha Nagar, the Law Firm announced in a statement.

The S&P team was led by Partner, Satadru Goswami, and assisted by Associates Aryadevi, Jinay Padh and Nikhil Issar.

The Yamuna International Airport Private Limited (YIAPL), a wholly owned subsidiary of Zurich Airport International AG (ZAIA), has tied up financial assistance of up to Rs. 3,725 crore from SBI to finance the construction of the Airport.

The Airport is being set up under the PPP model under collaboration with major international player ZAIA. The Airport is expected to have 6 to 8 runways, the maximum at an airport in India, when fully built. 

This is one of the largest financings in an Indian greenfield airport, the Law Firm said.

“The financing model also showcases ZAIA’s commitment to the project with the first phase of the Airport being funded on a debt-to-equity ratio of 65:35, and with ZAIA injecting Rs 2,005 crore as equity for the development of the Airport,” it said. 

The financing agreements were executed on August 10, 2021, marking the financial closure of the Airport, the statement said.