An Indian expressway project has secured necessary funding.
Funding is now in place to pay for work on a 464km section of India’s Meerut-Prayagraj Ganga Expressway. The US$1.25 billion funding package is being provided by the State Bank of India (SBI) for the highway.
Adani Enterprises (AEL) has a 30-year concession package for the highway, which has been awarded on the design-build-finance-operate-transfer (DBFOT) model. Meanwhile, AEL will provide an additional $833.4 million from its own sources to help pay for work on the expressway project.
