New Delhi: Adani Enterprises Ltd (AEL) on Monday announced that it has received the letter of award from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) to implement three major stretches of the greenfield Ganga Expressway.
In a statement, the company informed that the project cost is over Rs 17,000 crore and this is India’s largest-ever expressway project awarded to a private company under the public-private partnership (PPP) framework.
As per the statement, AEL will construct three groups of the access-controlled six-lane expressway, expandable to eight lanes in Uttar Pradesh and the concession period will be 30 years.
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The Ganga Expressway in Uttar Pradesh, which will connect Meerut with Prayagraj, will be India’s longest expressway to be implemented on the design, build, finance, operate and transfer (DBFOT) basis.
Of its 594-km length, AEL will build 464 km from Budaun to Prayagraj, which comprises 80 per cent of the expressway project, the company stated.
The LoA to AEL covers the development of access controlled six-lane (expandable to eight-lane) expressway in three groups: 151.700 km from Budaun to Hardoi, 155.7 km from Hardoi to Unnao and 156.947 km from Unnao to Prayagraj.
KP Maheshwari, CEO, Road Business, said: “India is building at a record pace the road infrastructure it needs for its development and we are delighted to play a role in building a network of world-class road connectivity all across the nation,”
“This Letter of Award to build the Ganga Expressway, India’s longest, is further evidence of the Adani Group’s ability and speed of execution in managing complex, world-class infrastructure projects for the nation,” he added.
Adani Enterprises Ltd’s statement further mentioned that “With this letter of award from UPEIDA, AEL’s road portfolio has grown to 13 projects with more than 5,000 lane km and an asset value exceeding Rs 35,000 crore spread over nine states in India – Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat, West Bengal, Odisha, and Uttar Pradesh“.
The portfolio has a mix of HAM (Hybrid Annuity Mode), TOT (Toll-Operate-Transfer), and BOT (Build-Operate-Transfer) type assets, it informed.
Adani Enterprises Ltd is the flagship company of the Adani Group. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses, contributing to nation-building, and divesting them into separate listed entities.
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