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Tata Projects, (the infrastructure, and construction arm of Tata group)has emerged victorious in the bidding war to build the Noida International Airport in Jewar.
It is interesting to note that L&T and SPG too participated in the bid.
The decision was announced by the YIAPL(Yamuna International Airport Private Limited) on Friday that Tata Projects will be its new EPC(Engineering, Procurement, and Construction) contractor.
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This is due to the fact that Tata Projects managed to rank higher on the bidding criteria based on factors such as quality and costs.
According to YIAPL, the Tata Projects will now be responsible for the construction of NIA's terminal, runway, airside infrastructure, roads, utilities, landside facilities, and other ancillary buildings.
Vinayak Pai, CEO, and MD-designate at Tata Projects Ltd. stated, “Tata Projects will work closely with YIAPL to deliver the airport on time. We will deploy the latest technologies in its construction while meeting the highest standards of quality, safety, and sustainability”
What's interesting is that this is a special victory for Tata projects, considering the fact that even though it frequently dominates in acquiring major tenders, the Mewar airport is the first airport EPC contract that it has bagged.
It shouldn't come as a surprise considering the fact that Tata Projects has been quite aggressively quoting prices to win tender projects.
Under the circumstances, YIAPL remarked, “With the award of this EPC contract, our project enters the next phase, which will witness a rapid increase in the pace of construction activities on site. Together with Tata Projects, we're working to deliver a passenger terminal, runway, and other airport infrastructure with a capacity of 12 million passengers annually, by 2024”
The Airport is expected to be functional by 2024, according to YIAPL.
Furthermore, according to the contract terms, a fine of Rs 10 lakh will be applicable on each day past the deadline for the developer of the Noida International project.
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