Home / Companies / News /  Adani Enterprises secures financing for Ganga expressway project

New Delhi: Adani Enterprises Ltd. has secured financing for the access-controlled, six-lane greenfield Ganga Expressway Project in Uttar Pradesh.

The Ganga Expressway, which will connect Meerut with Prayagraj, will be India’s longest, running a total of 594 km. Adani Enterprises will build 464 km from Budaun to Prayagraj, which comprises 80% of the project.

Moving at quick pace to complete the projects, three subsidiaries of Adani Enterprises - 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 greenfield project(Group-II, III & IV). The project is being implemented on a design-build-finance-operate-transfer (DBFOT) basis.. The concession period is 30 years.

“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. “The State Bank of India has underwritten the entire debt requirement of 10,238 crore for the Ganga Expressway Projects (BHRPL, HURPL & UPRPL)."

Adani Enterprises’ road portfolio comprises eight projects with more than 6,400 lane km and an asset value exceeding 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.

Adani Enterprises is the flagship company of Adani Group. It is focused on building emerging infrastructure businesses and divesting them into separate listed entities. Having successfully built unicorns like Adani Ports & SEZ, Adani Transmission, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar. The next generation of its strategic business investments are centred around green hydrogen ecosystem, airport management, roads, data center and water infrastructure.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout