In a major boost to the mega 296-km Bundelkhand Expressway, the Uttar Pradesh government has raised bank loans worth Rs 5,900 crore for the ongoing project.
The fresh loans have been raised from a consortium of public sector lenders comprising Bank of Baroda, Union Bank of India, Bank of Maharashtra, Indian Bank, Bank of India and Uco Bank.
An agreement for loans totalling Rs 5,900 crore for Bunelkhand Expressway, expected to cost Rs 15,000 crore, was signed on Tuesday between these banks and state nodal agency UP Expressway Industrial Development Authority (UPEIDA). Last month, the UPEIDA board had cleared the proposal of raising Rs 5,900 crore for the Expressway from banks.
