Gautam Adani-led Adani Enterprises (AEL) will build a ropeway between Sonprayag and Kedarnath in Uttarakhand.
The Adani Group’s flagship company has received a Letter of Award (LoA) from the National Highways Logistics Management (NHLML) to build the company’s first ropeway project and will be executed by its Roads, Metro, Rail, and Water (RMRW) division.
Adani Group to invest Rs 4,081 crore
Adani Enterprises will invest Rs 4,081 crore in the project, which will be developed under the National Ropeways Development Programme – Parvatmala Pariyojana. The ropeway will be built on a Public-Private Partnership (PPP) model with NHLML, on a revenue-sharing basis. Construction will take six years, after which AEL will operate the project for 29 years.
Kedarmath travel time cut to 36 min; 1,800 passengers/hour capacity
The 12.9 km ropeway is expected to drastically reduce travel time to the Kedarnath shrine. Pilgrims currently take 8–9 hours on a steep trek, but the ropeway will bring it down to just 36 minutes.
Once operational, the project will be able to carry 1,800 passengers per hour in each direction. Kedarnath attracts nearly 20 lakh pilgrims annually, underlining the scale of the project.
Boost to tourism and jobs
Besides easing travel, the project is expected to generate jobs and boost local tourism. With improved connectivity, authorities expect it to enhance the pilgrimage experience and support the state’s economy.
Adani Enterprises enters roads and highways sector in 2018
Adani Enterprises entered the roads and highways sector in 2018 and has built a portfolio of 14 projects spanning over 5,000 lane kilometres. Its RMRW division now handles projects across roads, metro, rail and water infrastructure.
Share price of Adni Enterprises
The share price of Adani Enterprises opened in the green in today’s trade. The stock has gained 6.41 per cent in the last six months.