Adani Ent Ltd achieves Financial Closure for India’s largest greenfield expressway proj
29 September, 2022 | Pranay Lad
As fully owned subsidiaries of Adani Enterprises Ltd (AEL), Budaun Hardoi Road Private Ltd (BHRPL), Hardoi Unnao Road Private Ltd (HURPL), and Unnao Prayagraj Road Private Ltd (UPRPL) have each rea...
As fully owned subsidiaries of Adani Enterprises Ltd (AEL), Budaun Hardoi Road Private Ltd (BHRPL), Hardoi Unnao Road Private Ltd (HURPL), and Unnao Prayagraj Road Private Ltd (UPRPL) have each reached financial closure for their respective access-controlled six-lane (extendable to eight-lane) greenfield Ganga Expressway Projects (Group-II, III, & IV) in Uttar Pradesh (UP) on a DBF The 30-year concession term is required.
India’s longest expressway to be built on a DBFOT basis will be the Ganga Expressway in Uttar Pradesh, connecting Meerut and Prayagraj. 80% of the expressway project, or 464 km, will be built by AEL from Budaun to Prayagraj, totaling 594 km.
According to Mr. K P Maheshwari, CEO of Adani Enterprises Ltd.’s Road Business, “India is creating the road infrastructure it requires for its growth at a record rate, and we are happy to be delivering the much-needed road connection all throughout the nation.” “The State Bank of India has guaranteed the whole INR 10,238 billion loan required for the Ganga Expressway Projects” (BHRPL, HURPL & UPRPL). With the help of this SBI facility, we are one step closer to giving our nation and the state of UP another important infrastructure.
AEL now has 18 projects in its road portfolio, totaling more than 6,400 lane kilometres and assets worth more than Rs. 44,000 Crore. scattered throughout 10 Indian states: Odisha, Uttar Pradesh, Chhattisgarh, Telangana, Madhya Pradesh, Kerala, Gujarat, and West Bengal. HAM (Hybrid Annuity Mode), TOT (Toll-Operate-Transfer), and BOT (Build-Operate-Transfer) type assets are all mixed together in the portfolio.