Swiss airport operator Flughafen Zürich AG has been named as the selected bidder to design, develop and operate India’s new Noida International Airport in Jewar.

Flughafen Zürich, which holds 100% of the project, will build and manage the airport under a 40-year agreement and invest approximately CHF650m/$650.7m during the construction phase, which is expected to last around four years.

Upon the completion of phase one, the airport will be able to handle roughly 12 million passengers per year.

Besides capital investments, Flughafen Zürich will pay a fixed passenger feee to the state-owned authority beginning on the sixth anniversary of the commissioning of the new airport.

A statement read: “After the successful sale of its remaining shares in the airport in Bengaluru (Kempegowda International Airport) in 2017, Flughafen Zürich AG is excited to be again present in India, a focus market for the company.

“With the award of the concession for the new Noida International Airport, Flughafen Zürich AG will participate in the expected growth of the Indian aviation market and will implement its best practices developed in Switzerland while maintaining the local Indian values.

“Flughafen Zürich AG is committed to offer the highest service quality to the passengers, airlines and other involved stakeholders in the new Noida International Airport.”

Flughafen Zürich AG, which has business at eight airports in Latin America (Brazil: 4; Chile: 2; Curaçao: 1; and Bogota: 1), is targeting Indonesia and the Philippines among other future markets.

The greenfield site for the new Jewar Airport is located around 80 kilometres south of Delhi and is seen as a vital artery for flight traffic growth in India’s National Capital Region.