Bundelkhand Expressway: UPEIDA inks deal with Bank of Baroda-led bank consortium to fund the project; details

By: |
August 26, 2020 3:27 PM

Earlier this year, the foundation stone for the 296-kilometres long Bundelkhand Expressway was laid by Prime Minister Narendra Modi in Chitrakoot, Uttar Pradesh.

It is expected that the expressway project will provide seamless passage to the national capital.

Bundelkhand Expressway: For funding the construction of the Bundelkhand Expressway, the Uttar Pradesh Expressway Industrial Development Authority (UPEIDA) has recently inked a deal with a consortium of six banks. According to a PTI report, the consortium of six banks is being led by Bank of Baroda. Earlier this year, the foundation stone for the 296-kilometres long Bundelkhand Expressway was laid by Prime Minister Narendra Modi in Chitrakoot, Uttar Pradesh. In the coming years, the four-lane Bundelkhand Expressway, expandable to six-lane, will be an infrastructure boost for the state. It is expected that the expressway project will provide seamless passage to the national capital.

The Bundelkhand Expressway project will pass through many districts of Uttar Pradesh. Through Yamuna Expressway and Agra-Lucknow Expressway, the project will link the Bundelkhand area to New Delhi. It will start from Jhansi and pass through the lesser developed districts like Chitrakoot, a popular tourist and religious spot, Auraiya, Hamirpur, Banda, and Jalaun. The expressway, from the district of Jalaun, will be linked to Etawah and then it will reach Naseempur through Bateshwar before joining the Agra-Lucknow Expressway.

Earlier it was reported that the work on Bundelkhand Expressway has been divided into six phases. APCO Infratech will handle the construction of first and second phase, Ashoka Buildcon will handle the construction of the third phase, Gawar Construction Limited will handle the fourth as well as the fifth phase, and Dilip Buildcon will handle the construction of the sixth phase.

Meanwhile, Awanish Kumar Awasthi, Chief Executive Officer of UPEIDA said there are no other problems in funding for the Purvanchal Expressway. He also assured that the work on the ambitious project will be completed before the deadline set by the government. According to Awasthi, who is also the state’s additional chief secretary (Home), the UPEIDA is responsible for the construction of the expressway project. For the construction of the expressway, it has taken a loan of Rs 5,900 crore from six banks.

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