Adani’s greenfield expressway project secures Rs.10,238 cr
Wholly owned subsidiaries by Adani Enterprises Ltd (AEL), the 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 access-controlled six-lane (expandable to eight lanes) greenfield Ganga Expressway Project (Group-II, III & IV) in Uttar Pradesh (UP) respectively on DBFOT (Toll) basis under PPP mode.
The concession period shall be 30 years. The Ganga Expressway in Uttar Pradesh, which will connect Meerut with Prayagraj, will be India’s longest expressway to be implemented on a DBFOT basis. Of its 594-km length, AEL will build 464 km from Budaun to Prayagraj, which comprises 80 percent of the expressway project.
CEO, Road Business, Adani Enterprises Ltd. K P Maheshwari 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,” said Maheshwari.
AEL’s road portfolio has grown to 18 projects with more than 6,400 lane kms and an asset value exceeding Rs.44,000 crore spread over ten states in India — 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-Operate-Transfer), and BOT (Build-Operate-Transfer) type assets.
[With Inputs from IANS]
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