Yamuna Authority allocates ₹10,000 Crore in Budget, Focus on Noida Airport and Rapid Rail

Greater Noida, India (Urban Transport News): In a significant move, the Yamuna Expressway Industrial Development Authority (YEIDA) has unveiled a substantial budget of nearly ₹10,000 crore for the fiscal year 2024-25. The allocation includes ₹700 crore for the expansion of the Noida Airport and ₹300 crore for enhancing rapid rail connectivity in the region.

The YEIDA, operating under the purview of the Uttar Pradesh government and overseeing land development along the 165-kilometer-long Yamuna Expressway from Greater Noida to Agra, has earmarked 80% of the budget for land acquisition. This strategic allocation is in line with YEIDA's vision to establish manufacturing clusters for electric vehicles (EVs), semiconductors, Data Parks, and other specialized industries.

During the 80th meeting of the YEIDA's Board chaired by Anil Sagar, the budget, along with a 5.41% hike in land costs within the area, was unanimously approved. Arun Vir Singh, CEO of YEIDA, expressed enthusiasm about the ambitious development plans, emphasizing the expansion of new sectors and innovative initiatives like semiconductors and Data Parks.

Singh highlighted the allocation breakdown, stating, "Of the total budget, over ₹6,000 crore would be directed towards land acquisition, while ₹2,000 crore would be allocated for development works." He elaborated on the focus areas, mentioning clusters for EVs, semiconductors, electronic manufacturing, and dedicated parks for various industries such as leather, plastic, handloom, and transport.

Furthermore, YEIDA, holding a 12.5% stake in the upcoming Noida International Airport, aims to establish seamless connectivity between the airport and Delhi via the RRTS rail system through Ghaziabad. Singh disclosed that ₹700 crore has been designated for land acquisition for the third phase expansion of the airport in Jewar, with an additional ₹300 crore allocated for the rapid rail connecting Jewar Airport to Ghaziabad.

The Noida International Airport, a PPP project spearheaded by the Uttar Pradesh government and managed by Yamuna International Airport Private Limited, is poised to open its first phase for commercial operations by the end of the year. In a separate endeavor, YEIDA has acquired 750 acres of land in Aligarh district, with ongoing efforts to secure an additional 17-20 acres in the Tappal area.

Singh underscored the significance of the unprecedented budget, attributing the 5.41% increment in land costs to the cost inflation index. This adjustment aims to maintain the area's appeal to investors while ensuring equitable land allotment to new industries without imposing undue financial burdens.

The substantial budget allocation by the Yamuna Expressway Industrial Development Authority reflects a strategic vision to bolster infrastructure development in the region. With a focus on expanding the Noida Airport, enhancing rapid rail connectivity, and creating specialized manufacturing clusters, YEIDA aims to stimulate economic growth and attract investments. The proactive measures and ambitious initiatives underscore YEIDA's commitment to transforming the region into a thriving hub for innovation and industrial development.