Business
Noida international airport plans to raise Rs 3,725 crore in term loans
Officials said on Tuesday that Yamuna International Airport Pvt Ltd (YIAPL) had raised 3,725 crore debts from the State Bank of India for the development of the upcoming Noida International Airport. YIAPL is a 100% subsidiary of Swiss developer Zurich Airport International AG (ZAIA) and has been merged to develop Jewar Airport, approximately 70 kilometers from the main area of Delhi.
Officials said the Uttar Pradesh government also learned of the full funding for the first phase of the project on Tuesday. They said that the “financing agreement” was signed by YIAPL, the State Bank of India (SBI) and Noida International Airport Ltd. (NIAL), which is a project node institution established by the Uttar Pradesh government.
“YIAPL has raised 3,725 crore debts from SBI, which will be repaid within 20 years and will be suspended for one year after completion of the project. This is one of the largest financings for a Indian greenfield airport. The financial closer marks another key milestone for the project. Bring it closer to the beginning of the construction project,” the official statement read.
The debt-to-equity ratio of the project is 65:35. It added that ZAIA is a fully-owned subsidiary of Flughafen Zurich AG, a major shareholder of YIAPL, and will inject Rs 2,005 crore into the development of Noida International Airport.
“We are now eagerly looking forward to working closely with partners including NIAL and SBI to develop the airport. This partnership will promote economic growth and employment in Uttar Pradesh, and will promote the development of the Indian aviation industry,” Christoph Schnellmann, CEO of YIAPL Said.
News Source : Business Standard
.jpg "Now that the Ambani Jamnagar chaos has passed, celebs are returning to Mumbai. View their photos straight out of the airport.")
Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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