He added that the International Airport will cater to 30-50 million passengers per year over the next 10-15 years.
The airport is likely to be operational in 5-6 years and will help reduce congestion at the Delhi global airport.
Sinha added that the new airport will also provide seamless domestic and worldwide connectivity to western UP with Noida, Agra, Mathura, Meerut, Vrindavan, Meerut, Moradabad and Bulandshahr likely to serve as the the catchment area for the new aerodrome.
PM off to Portugal on way to USA and Netherlands
But however shaky Mr Trump's presidency may appear day-to-day, he is still the locus of power in the USA capital. Prime Minister Modi who was on a historic visit to Portugal, met Indian community and interacted with them.
The airport will be built on a public-private partnership model with the GMR-led Delhi International Airport Limited (DIAL), which now operates IGIA, getting the Right of First Refusal (RoFR) at the time of bidding for the Noida International Airport, the Minister added.
3,000 hectares of land, required for the airport project, has been notified by the Yamuna Expressway Industrial Development Authority. Sinha pointed out at the press briefing that industries such as electronics and pharma manufacturing will especially get a boost from the new airport.
Senior minister Raju said that the government will honour the Operation Management and Development Agreement (OMDA) with GMR, which operates the Delhi Airport jointly with the Airports Authority of India (AAI) for Delhi airport.
He further said that UP Government and YEIDA will be preparing the Techno- Economic Feasibility Report for the project.
While businessmen and hoteliers see the project as a lucrative opportunity for their business, the youth believe that an airport will bring them employment opportunities.It all started in 2001 when then Uttar Pradesh chief minister Rajnath Singh proposed a Greenfield Taj International and aviation Hub (TIAH) at Jewar.
To augment the airport project, YEIDA has also revived the high-speed Metro link project between Greater Noida and proposed airport at Jewar, Singh added. The IGIA is being developed and managed by a consortium led by GMR. The project will be executed through public-private partnerships and contracts will be awarded after competitive bidding.