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Adani Enterprises achieves financial closure for 6-lane Ganga Expressway project

Adani Enterprises achieves financial closure for 6-lane Ganga Expressway project

The Ganga Expressway will connect Meerut with Prayagraj and will be India’s longest expressway to be implemented on a ‘design, build, finance, operate and transfer’ (DBFOT) basis.

Adani Enterprises achieves financial closure of the greenfield expressway project Adani Enterprises achieves financial closure of the greenfield expressway project

Adani Enterprises’ wholly owned subsidiaries Budaun Hardoi Road Private Ltd (BHRPL), Hardoi Unnao Road Private Ltd (HURPL) and Unnao Prayagraj Road Private Ltd (UPRPL) have achieved financial closure for the six-lane greenfield Ganga Expressway Project in Uttar Pradesh on toll basis under PPP mode. The six lane is expandable to eight lanes. The concession period for this will be 30 years with traffic link extension provision of 6 years, including three years construction period.

The Ganga Expressway will connect Meerut with Prayagraj and will be India’s longest expressway to be implemented on a ‘design, build, finance, operate and transfer’ (DBFOT) basis.

Adani Enterprises will build 464 km from Budaun to Prayagraj, out of its 594-km length. This will comprise 80 per cent of the expressway project.

K P Maheshwari, CEO, Road Business, Adani Enterprises said, “India is building at a record pace the road infrastructure it needs for its development, and we are delighted to be providing the much-needed road connectivity all across the nation. The State Bank of India has underwritten the entire debt requirement of Rs 10,238 crore for the Ganga Expressway Projects (BHRPL, HURPL & UPRPL). With this facility from the SBI, we have moved a step closer to providing our country and the state of UP with another landmark infrastructure.”

AEL’s road portfolio has 18 projects with more than 6,400 lane kms and an asset value exceeding Rs 44,000 crore, spread over 10 states including Uttar Pradesh, Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat, West Bengal and Odisha. The portfolio has a mix of HAM (Hybrid Annuity Mode), TOT (Toll-OperateTransfer) and BOT (Build-Operate-Transfer) type assets.

Also read: Adani Group will invest over $100 billion in next 10 years, says Gautam Adani

Published on: Sep 29, 2022, 1:24 PM IST
Posted by: anwesha madhukalya, Sep 29, 2022, 1:19 PM IST