YEIDA News: The Yamuna Expressway Industrial Development Authority (YEIDA) has planned to purchase 5,000 hectares of land close to the upcoming Jewar International Airport in Noida, Nand Gopal Gupta 'Nandi' minister for industrial development in the Uttar Pradesh government told ET. This decision was taken to improve the real estate in the region.

It is anticipated that the airport will open later this year.

A film city, a medical device park, a logistics park, and a data centre park are just a few of the initiatives the state is currently working on in the area.

"Asia's biggest airport is coming up in UP and we want to make sure it enhances the economic activity of the entire state. The Yamuna authority has already prepared a detailed plan and is allotting land for various activities. We will further add land to ensure development in a seamless manner," said Nandi.

The Yamuna authority and Bayview Bhutani Film City, a special purpose vehicle (SPV) that plans to create a movie city near Noida, inked a concession deal last year.

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"The upcoming international airport at Jewar is an ambitious project for Uttar Pradesh and the entire northern region. We expect the airport to be a major catalyst towards the growth of industrial and logistic sectors. The government is already witnessing significant demand for all kinds of land parcels. Cognizant of the requirement, we have prepared a draft master plan 2041 and we envisage acquiring 5,000 hectares of land in and around Jewar airport at the earliest," said Nandi.

About 1,040 hectares of this would be used for industrial development, while another 178 hectares will be set aside for the construction of a logistics park.