Adani Enterprises secures funding for Ganga expressway
ROADS & HIGHWAYS

Adani Enterprises secures funding for Ganga expressway

According to a company statement, the access controlled, six-lane Greenfield Ganga Expressway project in Uttar Pradesh has reached financial closure for Budaun Hardoi Road Private Ltd, Hardoi Unnao Road Private Ltd, and Unnao Prayagraj Road Private Ltd, all wholly owned subsidiaries of Adani Enterprises.

The 30-year concession term is required.
The Ganga expressway, the longest expressway in India to be built on a DBFOT basis in Uttar Pradesh, which will link Meerut and Prayagraj. AEL will develop 464 km of the expressway's total length, or 80% of its 594 km, from Budaun to Prayagraj.

“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,” said K P Maheshwari, CEO, Road business, Adani Enterprises Ltd.

“The State Bank of India has underwritten the entire debt requirement of Rs 102.38 billion 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,” he added.

AEL's road portfolio has grown to 18 projects totaling over 6,400 land kilometres and an asset value in excess of Rs 440 billion. Uttar Pradesh, Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat, West Bengal, and Odisha are among the ten Indian states. The portfolio contains a mix of HAM, TOT, and BOT assets.

See also:
Adani to raise Rs 12k cr debt from SBI for Ganga Expressway
Adani Enterprises bags Rs 17,000 cr expressway project in UP under PPP


According to a company statement, the access controlled, six-lane Greenfield Ganga Expressway project in Uttar Pradesh has reached financial closure for Budaun Hardoi Road Private Ltd, Hardoi Unnao Road Private Ltd, and Unnao Prayagraj Road Private Ltd, all wholly owned subsidiaries of Adani Enterprises. The 30-year concession term is required. The Ganga expressway, the longest expressway in India to be built on a DBFOT basis in Uttar Pradesh, which will link Meerut and Prayagraj. AEL will develop 464 km of the expressway's total length, or 80% of its 594 km, from Budaun to Prayagraj. “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,” said K P Maheshwari, CEO, Road business, Adani Enterprises Ltd. “The State Bank of India has underwritten the entire debt requirement of Rs 102.38 billion 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,” he added. AEL's road portfolio has grown to 18 projects totaling over 6,400 land kilometres and an asset value in excess of Rs 440 billion. Uttar Pradesh, Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat, West Bengal, and Odisha are among the ten Indian states. The portfolio contains a mix of HAM, TOT, and BOT assets. See also: Adani to raise Rs 12k cr debt from SBI for Ganga Expressway Adani Enterprises bags Rs 17,000 cr expressway project in UP under PPP

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price

Two commercial plots on the western bank of the Sabarmati Riverfront will be auctioned with a base price of Rs 112 crore each, equivalent to Rs 1.12 bn apiece and Rs 2.24 billion in total. The parcels are located adjacent to the Metro Rail Bridge in Ahmedabad and form the first commercial offering after a prolonged pause. The Riverfront Development Corporation has framed the sale as part of a phased commercial release to revive development along the riverfront. The combined base valuation has been set by the corporation to reflect market rates along the riverfront. The corporation has fixed a ..

Next Story
Infrastructure Urban

Andhra Pradesh to Connect Over One Million Streetlights

Andhra Pradesh will undertake a statewide smart streetlighting programme across all 123 Urban Local Bodies (ULBs), bringing around 1.05 million (mn) streetlights under an AI enabled monitoring and management system. The programme will be implemented by Energy Efficiency Services Limited (EESL) with the Commissioner and Director of Municipal Administration under the state Municipal Administration and Urban Development Department. The project aims to convert conventional streetlighting into a digitally managed municipal service monitored and maintained remotely. The initial phase will cover abou..

Next Story
Infrastructure Urban

AMC To Procure Four Machines For Guard Rail Cleaning

Ahmedabad Municipal Corporation will introduce four specialised machines for cleaning guard railings along major roads and the central verges of BRTS and Metro corridors. The civic body plans to replace manual labour with mechanised cleaning to improve maintenance of road infrastructure and greenery. The purchase is estimated at Rs 82.8 million (mn), excluding GST. The proposal sets the base price of each machine at about Rs 20.7 million (mn) so four units total Rs 82.8 million (mn) before GST. 18 per cent GST will be applicable separately. During the warranty period each machine will operate ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement