Vishwa Samudra Engineering Secures €40 M for Varanasi Ropeway Project

Vishwa Samudra Engineering (VSE) has secured up to €40 million in financing from a prominent Swiss bank for the Varanasi Ropeway Project, under the National Highway Logistics Management Ltd. (NHLML), a subsidiary of NHAI. This deal establishes VSE as the first Indian infrastructure company to attract foreign financing for an NHAI project, opening new doors for international investment in Indian infrastructure.
The landmark financing deal was celebrated at the Export Financing Conference in New Delhi, where Mr. Shivdutt Das, VSE’s Executive Director, shared insights on ECA-backed financing. SERV, the Swiss Export Credit Agency, played a key role in facilitating this agreement, with Union Minister Nitin Gadkari delivering the keynote address, highlighting the government's focus on innovative funding for infrastructure.
Located in the Prime Minister's constituency, the Varanasi Ropeway Project is India’s first urban ropeway and the second globally, setting new standards for sustainable urban transport. Swiss technology firm Bartholet Maschinenbau AG will provide equipment under the loan agreement, supporting manufacturing and export operations from Switzerland to India.