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AEL secures funds for ₹23,060-cr Ganga Expressway

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AEL secures funds for ₹23,060-cr Ganga Expressway

Adani Enterprises (AEL), which would construct a 464-km section of the Meerut-Prayagraj Ganga Expressway, has obtained funding for the endeavour. It has obtained a debt of Rs. 10,238 crore and will inject Rs. 6,826 crore for the project involving an investment of Rs. 23,060 crore. AEL has come one step closer to gifting the nation and the UP with yet another iconic infrastructure with the help of this SBI facility.

Eighty percent of the 594-km highway is made up of three separate portions that the business has divided among three special purpose vehicles (SPVs) for the project: Budaun Hardoi Road Private Ltd (BHRPL), Hardoi Unnao Road Private Ltd (HURPL), and Unnao Prayagraj Road Private Ltd (UPRPL). AEL received the projects under a design-build-finance-operate-transfer (DBFOT) model with a 30-year concession period. One of the most expensive road projects in India will be the six lanes (expandable to eight lanes), access controlled Ganga Expressway. It consists of four segments, three of which are being built by AEL, and the final, 129-km-long track, for which IRB Infrastructure has been awarded the contract.

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