Noida International Airport’s Vision
Noida International Airport (DXN) – has set its sights on a groundbreaking transformation of the aviation landscape in India, with an ambitious plan for an advanced Aviation Hub that promises to reshape the future of flight manufacturing, airplane assembly, and engine production. This visionary project spans a vast 1000-acre land, signaling a new era in Indian aviation. 🚀✈️
Noida International Airport’s Role as an Implementing Agency
As the implementing agency of the airport on behalf of the Uttar Pradesh Government, Noida International Airport Limited (NIAL) is driving this transformative project forward. With a total of 1365 hectares of land secured for the second phase of Noida International Airport, a significant portion, spanning 1000 acres, is dedicated to the development of the Aviation Hub.
The Scope of the Aviation Hub: An Innovation Powerhouse
For the second phase of Noida International Airport, NIAL is gearing up for a Maintenance & Repair and Overhaul (MRO) hub, alongside the much-anticipated Aviation Hub. Expressions of Interest (EoI) will soon be invited for the MRO segment, while the development of the Aviation Hub is set to take flight.
Aviation Manufacturing: A Game-Changer
The Aviation Hub is poised to become a hub for airplane assembling, engine manufacturing, nozzle production, and more. Notably, major players in aircraft equipment manufacturing are set to participate in this game-changing initiative. This development has already piqued the interest of numerous foreign companies eager to contribute to India’s aviation sector.
We’re setting the stage for countless take-offs from #NIAirport with the commencement of paving the wet mix granular layer (WMM)- an integral part of our runway crust. #FromTheGroundUp pic.twitter.com/yNTsjEsqri
— Noida International Airport (@NIAirport) October 4, 2023
Foreign Direct Investment (FDI) and the Aviation Hub
Foreign companies have expressed their keen interest in being part of this innovative project. The collaboration process, facilitated through discussions with the US embassy, has seen foreign firms enthusiastic about bringing their expertise to India. The new FDI policy has opened doors, offering substantial land subsidies and favorable conditions for aviation manufacturing in the country.
The Road Ahead: Key Milestones
The scheme for the Aviation Hub is currently under development by NIAL. Consulting firm PwC is working on the layout, and as soon as it’s complete, NIAL will convene a board meeting to give the scheme the green light. This project is not only a game-changer in aviation but also a significant driver of employment generation.
Benefits Under the New FDI Policy
The new FDI policy offers numerous advantages to overseas investors, including exemptions in land acquisition, stamp duty, and capital investment. Companies will enjoy a 75% land subsidy, a capital subsidy of up to 100 crore, and a 100% state GST reimbursement for a decade. Additionally, the government will reimburse expenses related to training and skill development.
Conclusion: Noida International Airport’s Exciting Journey
Noida International Airport’s visionary approach, coupled with the recent FDI policy changes, positions India as an attractive destination for aviation manufacturing. With Noida International Airport leading the way, the future of aviation in India is poised for unprecedented growth and innovation. 🌍🔧
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