Yamuna Expressway Concession Agreement

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Yamuna Expressway Concession Agreement

Zurich International and Yamuna International Airport applied to the Ministry of the Interior for security clearance on 30 January. Zurich AG cannot begin work on the Jewar airport site until the contract is signed. The main objectives of the proposed fast track have been defined as follows: the agreement should be signed by 2 July, in line with the previous timetable. Later, on 10 June, the UP government postponed the signing date of the agreement to 17 August in the face of the Covid 19 pandemic. “Once the agreement is signed, Zurich will start working on the site over the next six months, as it takes time to mobilize staff and also to lock up the necessary agencies,” Singh said. 1. The dealer is entitled to a fee for collecting tolls for the duration of the 36-year concession. For more information: visit www.yamunaexpresswayauthority.com (H) The events of the decision to delay and terminate according to the Board. If jiL does not meet its obligations under the concession, if it meets its legal obligations, or if it establishes the project according to the schedule or operates and manages the project facilities, YEA JIL may order that this failure be remedied within one hundred and ninety days or a longer period in accordance with the YEA. However, if JIL does not resolve its failure to the satisfaction of YEA, does not go into liquidation, reconstruction or similar procedure or becomes insolvent, YEA may terminate the contract by another 60 days` notice. If, under that, YEA has caused significant negative effects on the performance of the project or YEA rejects the CA or if in another way there is an irrevocable intention not to be bound by CA or the Government of India (G01), GOUP or a government authority created by a commission or omission of circumstances having a significant negative effect on the performance of the dealer, the YEA dealer or any other authority may give a period of cure of 90 days. If YEA or any other agency/authority is unable to terminate the cure period, the dealer is authorized to terminate the CA by a 60-day written notification to the YEA. On 29 November 2019, Zurich Airport International AG, owner of Switzerland`s largest airport, distinguished itself as the leading supplier for the design, construction and development of a new airport in Jewar, along the Yamuna Highway in Uttar Pradesh.

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