Adani subsidiaries get funding for Ganga Expressway Project in UP

September 29, 2022 16:05

Gautam Adani with the PM

Adani Enterprises Ltd on Thursday said it's three wholly-owned subsidiaries have achieved financial closure for the access-controlled six-lane greenfield Ganga Expressway Project in Uttar Pradesh under public-private partnership mode.

The company in a statement said it has secured finances of Rs 10,238 crore from lenders, and the concession period of the project shall be 30 years with traffic link extension provision of six years, including three years of construction period.

"Budaun Hardoi Road Private Ltd (BHRPL), Hardoi Unnao Road Private Ltd (HURPL) and Unnao Prayagraj Road Private Ltd (UPRPL) - wholly-owned subsidiaries of Adani Enterprises Ltd (AEL) - have achieved financial closure for the access-controlled six-lane (expandable to eight lane) greenfield Ganga Expressway Project (Group-II, III & IV) in Uttar Pradesh (UP) respectively on DBFOT (toll) basis under PPP mode," it said.

The Ganga Expressway in Uttar Pradesh, which will connect Meerut with Prayagraj, will be India's longest expressway to be implemented on Design, Build, Finance, Operate and Transfer (DBFOT) model. -- PTI

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