Ganga e-way: UPEIDA to explore PPP model

| | Lucknow
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Ganga e-way: UPEIDA to explore PPP model

Friday, 30 October 2020 | PNS | Lucknow

The Uttar Pradesh Expressway Industrial Development Authority (UPEIDA) has proposed Rs  22,145 crore for civil work for the construction of the Ganga Expressway for which the Board has asked UPEIDA to look for financial options.

The decision was taken in the Board meeting which was held under the chairmanship of UPEIDA CEO Awanish Awasthi here on Thursday.

The government spokesman said that the Board had approved a proposal of Rs  22,145 crore for the civil works for the construction of the Ganga Expressway. 

“To generate finances, the Board proposed that avenues of the PPP model should be explored. The investors should be identified as per the records of the NHAI and then Expression of Interest (EOI) should be signed,” he said.

The total cost of the Ganga Expressway is Rs  36,410 crore of which Rs  9,255 crore has been earmarked for acquisition of 7,800 hectare of land.

The Ganga Expressway is a six-lane greenfield expressway project. The total length of the project will be 602 km and it will be constructed in two phases. 

Earlier, the UPEIDA Board had cleared a proposal for raising loans totalling Rs  5,900 crore for the Bundelkhand Expressway from a consortium of banks led by public sector bank, Bank of Baroda (BoB), and also comprising Union Bank of India, Indian Bank, Bank of Maharashtra and UCO Bank.

So far, the BoB has offered loans worth Rs  4,000 crore for different expressway projects in UP, of which Rs  2,000 crore was meant for 296 km Bundelkhand Expressway.

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