Adani Enterprises Ltd (AEL), through its subsidiaries Budaun Hardoi Road Private Ltd (BHRPL), Hardoi Unnao Road Private Ltd (HURPL) and Unnao Prayagraj Road Private Ltd (UPRPL), has achieved financial closure for the access-controlled six lane greenfield Ganga Expressway Project (Group-II, III & IV) in Uttar Pradesh respectively on DBFOT (Toll) basis under public private partnership (PPP) mode. The concession period shall be 30 years.
Under the financial close, AEL secured INR102.4 billion (US$1.2 billion) from the lenders; committed equity infusion of INR68.2 billion (US$838.9 million); including a Viable Gap Funding (VGF) of INR59.96 billion (US$734,3 million).
The 594-km Ganga Expressway project will connect Meerut with Prayagraj and will be India’s longest expressway to be implemented on DBFOT basis. AEL will build 464 km from Budaun to Prayagraj or 80% of the project. The project's concession period is 30 years, including traffic link extension provision of 6 years and 3 years construction.
Country updates
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