Noida International Airport

Noida International Airport

Niall returned 100 million bank guarantee to Adani group
Siddharth agarwal, noida 
Noida International Airport Limited (Niall) on Tuesday returned the Adani Group's bank guarantee amount of Rs 100 crore. This bank guarantee was placed for the bid of Noida International Airport, Jewar. It was returned after the concession agreement was signed with developer company Zurich Airport International AG. Bank Guarantee of Delhi International Airport Limited (Dial) will also be refunded in a couple of days.
For companies joining the bid of Noida International Airport, a condition of 100 million rupees bank guarantee was laid. Zurich Airport International AG was selected as a developing company on 29 November 2019, but the Convitation Agreement was delayed due to the Kovid-19. Therefore, the state government had to increase the validity of the bid. Along with this, the period of bank guarantee of the companies ranked first in the bid also had to be extended.
The bidding process has been completed with a concession agreement with the developer company on October 7. In view of this, Niall has returned the bank guarantee of Rs 100 crore of the second-placed Adani group. The action to return the bank guarantee of the third-ranked dial has also started