SBI to finance the Adani Enterprise Ganga Expressway Project
Tags: Economy/Finance State News
The State Bank India has agreed to provide a loan of Rs 10,238 Crore to the Adani Enterprises Limited for its Ganga Expressway project .The 594 Km long Ganga expressway will connect Meerut with Prayagraj.
However the Adani Company will construct only 464 km out of the 594 long Ganga expressway. It will construct part of the expressway which connects Budaun to Prayagraj.
Adani Enterprises has set up three subsidiaries, Budaun Hardoi Road Private Ltd (BHRPL), Hardoi Unnao Road Private Ltd (HURPL) and Unnao Prayagraj Road Private Ltd (UPRPL) to implement the project.
SBI will provide a loan of Rs 10,238 Crore to these three companies combined.
- The Ganga Expressway is a Uttar Pradesh government project which will start from Meerut, National Highway (NH) 334 and end at NH 2 bypass in Prayagraj District.
- It will be a six lane access controlled Highway.
- It is the largest Greenfield expressway which is being built on the Design, Build, Finance, Operate and Transfer (“DBFOT”) model.
- It means the designing and construction of the road will be done by the Adani Company and it will have the right to collect tolls for the next 30 years. After 30 years it will transfer the expressway to the government.
- Greenfield means that it will be a totally new road project and there are no roads where it is being built.
Operational Expressway in Uttar Pradesh
- Yamuna Expressway -- 165 km from NOIDA to Agra
- Noida-Greater Noida Expressway -- 25 km. It connects Noida to Greater Noida.
- Agra-Lucknow Expressway -- 302 km
- Delhi-Meerut Expressway -- 96 km
- Purvanchal Expressway -- 341 km. It starts from Chand Saray village, Lucknow district and ends at Haydaria village, NH-31, Ghazipur district. It is the largest expressway in India..
- Bundelkhand Expressway -- 296 km. It connects Gonda village on NH-35 in Chitrakoot district with Kudrail village on Agra–Lucknow Expressway in Etawah district
Total operational expressways – 1,225 km
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