Snapshot
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Leading infrastructure firm HG Infra Engineering has received the Letter of Award “(LOA) from Adani Road Transport for execution of civil & associated works on Engineering Procurement & Construction (EPC) basis for development of an access – controlled six lane greenfield Ganga Expressway,
Leading infrastructure firm HG Infra Engineering has received the Letter of Award “(LOA) from Adani Road Transport for execution of civil & associated works on Engineering Procurement & Construction (EPC) basis for development of an access – controlled six lane greenfield Ganga Expressway, The Economic Times reported.
HG Infra Engineering will execute the civil & associated works for development of an access -controlled, six lane (expandable to Eight lane) greenfield Ganga Expressway covering a length of 151.7 km at a total cost of Rs 4970.99 crore.
The 594 km long and six-lane Ganga expressway will be built at the cost of over Rs 36,200 crore. The project has been divided into four groups to expedite work, each consisting of three packages.
While IRB bagged group 1, Adani Enterprises Limited (AEL) has won contracts from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) to build three groups of the Ganga Expressway project in a deal worth Rs 17,085.16 crore.
HG Infra will execute the group-II package from Nagla Barah village in Budan district to Ubariya Khurd village in Hardoi district.
The completion period will be 820 days from the appointed date to be declared by UPEIDA.
Funding
Adani group is reportedly in talks with the State Bank of India to raise Rs 12,000 crore loan for the Ganga Expressway.
SBI is currently engaged in a road traffic survey before loan terms are finalised, and the loan will be of longer maturity, between 10 and 30 years, although the terms are yet to be fixed.
Presently, AEL’s roads portfolio includes 13 projects with more than 5,000 lane km and an asset value exceeding Rs 35,000 crore spread over nine states in India.
Of its 594-km length, the AEL will build 464 km from Badaun to Prayagraj, which comprises 80 per cent of the expressway. Adani Enterprises will be implementing the project on a DBFOT (Toll) basis over a concession period of 30 years.
With a project cost of more than Rs 17,000 crore, Ganga Expressway is India’s largest-ever expressway project awarded to a private company under the PPP framework.
The Ganga Expressway starts from NH-334 near the Bijauli village in the Meerut district and terminates at Prayagraj Bypass on NH-19 near Judapur Dandu village.
Traversing through 12 districts — Meerut, Hapur, Bulandshahr, Amroha, Sambhal, Badaun, Shahjahanpur, Hardoi, Unnao, Rae Bareilly, Pratapgarh and Prayagraj — the expressway would connect the eastern and western parts of the state.
Also, the state government has plans to extend the expressway at both ends — by 110 km from Meerut to Tigri on the Uttar Pradesh/Uttarakhand border and by 314 km from Prayagraj to Ballia, in the second phase of the project.