LUCKNOW, India (AP) — An Indian state selected a Swiss company, Flughafen Zürich AG, on Friday to design, develop and operate a new airport near New Delhi after it outbid Indian companies.

A spokesman for the Uttar Pradesh state government, Mritunjay Kumar, said state authorities have acquired 5,100 acres (2,063 hectares) of land and obtained environmental clearance for one of the biggest airports in Asia.

Flughafen Zürich AG, which owns and operates Zürich airport, said it will develop and operate the new Noida International Airport at Jewar in Uttar Pradesh state under a 40-year concession.

The new airport will be about 80 kilometers (50 miles) south of New Delhi and will help accommodate an expected increase in flights in the capital region, the company said in a statement.

It said capital investment in the first phase of the project is expected to be about $650 million and construction will take about four years. The first phase is expected to be able to accommodate around 12 million passengers per year.

The Delhi International Airport Ltd., Adani Enterprises and Anchorage Infrastructure Investments Holdings Ltd. were other bidders for the project.