Meerut-Prayagraj Ganga Expressway: Yogi govt to seek Rs 4,480 crore loan
The Uttar Pradesh cabinet approved a proposal for Rs 4,480 crore loan from Punjab National Bank (PNB) to purchase land for the 594-kilometre-long Ganga Expressway project. Loan for the Rs 36,000 crore project will be given based on toll revenue securitisation from Agra-Lucknow Expressway.
This is the first attempt by a government institution to get resources on an asset securitisation basis in the infrastructure sector. The process of purchasing land for the Ganga Expressway, which is to be built from Meerut to Prayagraj, is going on in full swing. So far, 88% of the land has been purchased.
