"We have granted in-principle approval for a greenfield airport at Jewar (Greater Noida) to cater to the growing flying requirements of NCR", Civil Aviation Minister Ashok Gajapathi Raju said in a tweet.
The estimated cost for the construction of the first phase of the airport will be around Rs 10,000-crore.
The new facility, expected to be spread across 3,000 hectares of land, will be the second worldwide airport to serve the catchment areas of the NCR after the Indira Gandhi global Airport (IGIA).
However, the airport is likely to reach that figure in the next seven years, necessitating a second airport in the vicinity of the national capital, according to the government.
"In Delhi, we are expecting 91 million passengers by 2020 and 109 million passengers by 2024", Raju told reporters.
The Noida International Airport will be located 72Kms from IGI Airport and 65 Kms from Hindon Air Force station Ghaziabad. In June 2016, the Union ministry of defence cleared the project and in July, the Yamuna Expressway authority sent the site survey report to the defence ministry.
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Of the total land, 1,000 hectares will be acquired under the first phase of airport development, which will cost Rs 2,000 crore.
All important towns in Western UP will benefit from this airport, says Jayant Sinha.
Also at the briefing, Uttar Pradesh minister Siddharth Nath Singh thanked the central government for approving the setting up of the airpost in Greater Noida.
Earlier, a technical evaluation of the proposed site at Jewar was conducted, but due to the time lapse there was a need to conduct a fresh study, Sinha said.
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.
The airport project was first conceived during the regime of Rajnath Singh as chief minister in 2001 and given shape in 2002 by the next CM Mayawati. The last UP government scrapped the project, citing a clause that bars development of a second airport within a 150-km radius of an existing one. The project will be executed through public-private partnerships and contracts will be awarded after competitive bidding.