India Ratings and Research (Ind-Ra) has rated the term loan offered by Yamuna International Airport Private Limited (YIAPL) as a provisional A- and stable IND. The rating reflects the moderate construction risk, the potential for significant traffic growth in the Delhi-National Capital region, the stable regulatory regime of the sector, the strong financial profile and the long-standing experience of sponsor ZAIA in the airport sector. as well as a project debt structure.
Yamuna International Airport Private Limited (YIAPL) considers this credit rating a testament to Zurich International Airport (ZAIA) commitment to supporting India’s growth and the importance of experienced and financially viable investors to strategically important aviation sector in a very difficult market environment.
YIAPL is committed to building a world class airport in India which will act as a catalyst for the economic growth of India and Uttar Pradesh. The investment in Noida International Airport (NIA) will fuel the economy of the NCR, Greater Noida and the State of Uttar Pradesh, thus also generating significant direct and indirect employment opportunities in the region. . NIA will be a new digital airport, allowing smooth flows through the airport, a pleasant travel experience as well as a tailor-made and efficient infrastructure for its logistics partners. When fully constructed, Noida International Airport will be a thriving international airport serving the National Capital Region of Delhi and the rapidly developing industrial development area of the Yamuna Highway between Delhi and Agra.
With the investment in the Noida International Airport project, Zurich International Airport is committed to being a trusted partner for the Government of India and the Government of Uttar Pradesh by supporting the national program through infrastructure development and job creation. Zurich Airport International AG is the sole shareholder of YIAPL. YIAPL was incorporated as a Special Purpose Vehicle (SPV) to develop the new Noida International Airport in Jewar.
In October 2020, the government of Uttar Pradesh signed the concession agreement with ZAIA, a 100% subsidiary of Flughafen Zrich AG, to begin development of Noida International Airport in Jewar for a period of 40 years. . ZAIA received security clearance from the Union Home Office to develop Noida International Airport in Jewar in May 2020, after winning the contract to build and operate Noida International Airport (DNIA) in Greater Noida in November 2019.