Tapping private lenders for Ganga Expressway project
ROADS & HIGHWAYS

Tapping private lenders for Ganga Expressway project

Image courtesy: The Financial Express

The Uttar Pradesh government is planning to tap private lenders for funding the 628 km Ganga Expressway project.

The Ganga project is a six-lane greenfield expressway project which is estimated to cost more than Rs 360 billion. It was launched by CM of Uttar Pradesh on 29 January 2019. This mega project is proposed to be constructed in two phases. will be the world’s longest access-controlled expressway project, when completed. Phase-1 which will pass through 13 districts namely, Meerut-Amroha-Bulandshahr-Budaun-Shahjahanpur-Kannauj-Unnao-Rae Bareli-Pratapgarh and end at Malawan Khurd village on Jhusi Sahson road in Prayagraj District. Phase-2 will consist of two spurs, one 110 km long section connecting Tigri (near Garhmukteshwar) to Uttar Pradesh Uttrakhand Border near Haridwar and second 314 km connecting Prayagraj to Ballia via Varanasi. The total length of both the phases will be 1022 km.

Reportedly the project will be the world’s longest access-controlled expressway when completed.

In its crusade to keep up the promises it made to the people regarding infrastructural developments in the state, Adithyanath government is working on expanding its financing pool for Ganga Expressway, the Board of UP Expressway Industrial Development Authority (UPEIDA) has decided to take loans from the Reserve Bank of India (RBI) licensed banking entities.

The UP Expressway Industrial Development Authority (UPEIDA) Board has approved a proposal to raise Rs.29 billion from HUDCO for land acquisition costs of the Ganga Expressway project, which entails the acquisition of 6,556 hectares. The land acquisition will span over areas such as Meerut, Amroha, Bulandshahar, Badaun, Shahjahanpur, Farrukhabad, Hardoi, Kannauj, Unnao, Rae Bareli, Pratagarh and Prayagraj districts.

The UPEIDA Board has also cleared raising loans totalling Rs.59 billion for 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.

Image courtesy: The Financial ExpressThe Uttar Pradesh government is planning to tap private lenders for funding the 628 km Ganga Expressway project.The Ganga project is a six-lane greenfield expressway project which is estimated to cost more than Rs 360 billion. It was launched by CM of Uttar Pradesh on 29 January 2019. This mega project is proposed to be constructed in two phases. will be the world’s longest access-controlled expressway project, when completed. Phase-1 which will pass through 13 districts namely, Meerut-Amroha-Bulandshahr-Budaun-Shahjahanpur-Kannauj-Unnao-Rae Bareli-Pratapgarh and end at Malawan Khurd village on Jhusi Sahson road in Prayagraj District. Phase-2 will consist of two spurs, one 110 km long section connecting Tigri (near Garhmukteshwar) to Uttar Pradesh Uttrakhand Border near Haridwar and second 314 km connecting Prayagraj to Ballia via Varanasi. The total length of both the phases will be 1022 km.Reportedly the project will be the world’s longest access-controlled expressway when completed.In its crusade to keep up the promises it made to the people regarding infrastructural developments in the state, Adithyanath government is working on expanding its financing pool for Ganga Expressway, the Board of UP Expressway Industrial Development Authority (UPEIDA) has decided to take loans from the Reserve Bank of India (RBI) licensed banking entities.The UP Expressway Industrial Development Authority (UPEIDA) Board has approved a proposal to raise Rs.29 billion from HUDCO for land acquisition costs of the Ganga Expressway project, which entails the acquisition of 6,556 hectares. The land acquisition will span over areas such as Meerut, Amroha, Bulandshahar, Badaun, Shahjahanpur, Farrukhabad, Hardoi, Kannauj, Unnao, Rae Bareli, Pratagarh and Prayagraj districts.The UPEIDA Board has also cleared raising loans totalling Rs.59 billion for 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.

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?