The Uttar Pradesh government is currently generating a sum of ₹9,275 crore to part fund two mega expressway projects: the Gorakhpur Link Expressway and the Bundelkhand Expressway, which are estimated to cost ₹4,600 crore and ₹15,000 crore, respectively. The UP Expressway Industrial Development Authority (UPEIDA) CEO and state additional chief secretary Awanish Kumar Awasthi, said that the expressways help boost local economy and generate employment. The government has fast tracked construction work on both these projects. Meanwhile, Bank of Baroda has approved a bank loan of ₹2,000 crore for the Bundelkhand Expressway, while the process of forming a consortium of banks is underway. Besides, ₹700 crore loan has been sanctioned by the Union Bank of India, and the commercial banks are now in the process of granting sanction to the remaining portion of the loan of ₹6,575 crore.
📅Published on:
26 May 2020
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