Ganga Expressway Project: Adani Enterprises secures finances of ₹10,238 crore from the lenders
1 min read 29 Sep 2022, 01:22 PM ISTThe Ganga Expressway in Uttar Pradesh, which will connect Meerut with Prayagraj, will be India’s longest expressway to be implemented on DBFOT basis
PremiumBudaun 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.
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 DBFOT basis. Of its 594-km length, AEL will build 464 km from Budaun to Prayagraj, which comprises 80% of the expressway project.
“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 Mr K P Maheshwari, CEO, Road Business, Adani Enterprises Ltd.
“The State Bank of India has underwritten the entire debt requirement of INR 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"
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-OperateTransfer) and BOT (Build-Operate-Transfer) type assets.
Adani Enterprises Limited (AEL) is the flagship company of Adani Group, one of India’s largest business organisations. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses, contributing to nation-building 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 company has contributed significantly to make the country self-reliant with our portfolio of robust businesses.
