New Delhi: Adani Enterprises Limited (AEL) on Monday announced that it has received a letter of award from the Uttar Pradesh Expressway Industrial Development Authority (UPEIDA) for implementing three major stretches of greenfield Ganga Expressway.
In a statement, the company informed that the project cost over Rs 17,000 crore and is India’s largest expressway project awarded to a private company under the Public-Private Partnership (PPP) framework.
According to the statement, AEL will build three clusters of access-controlled six-lane expressways, which can be expanded to eight lanes in Uttar Pradesh and the concession period will be 30 years.
Read also | Crypto Credit Cards: All You Need to Know
The Ganga Expressway in Uttar Pradesh, which will connect Meerut with Prayagraj, will be the longest expressway in India to be implemented on a design, build, finance, operate and transfer (DBFOT) basis.
The company said that out of its 594 km length, AEL will construct 464 km from Budaun to Prayagraj, which comprises 80 per cent of the expressway project.
The LOA to AEL covers the development of a controlled six-lane (expandable to eight-lane) expressway in three clusters: 151.700 km from Badaun 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 road infrastructure at a record pace, which is essential for its growth and we are delighted to play a role in building a world-class road connectivity network across the country. Huh.”
“This Letter of Award for the construction of India’s longest Ganga Expressway is further proof of Adani Group’s capability and speed of execution in managing complex, world-class infrastructure projects for the country,” he said.
Adani Enterprises Limited’s statement further mentioned that “With this letter of award from UPEDA, AEL’s road portfolio has grown to 13 projects with more than 5,000 lane kms and is spread across nine states in India – Chhattisgarh, Telangana, Andhra Pradesh”. The value of assets is more than Rs 35,000 crore spread in the states, 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) types of assets, it informed.
Adani Enterprises Limited 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 diversifying them into separate listed entities.
,