UP to raise Rs 7,000 crore from banks for 296-km Bundelkhand Expressway
The Uttar Pradesh government is planning to raise Rs 7,000 crore from a consortium of banks for the Bundelkhand Expressway project, estimated to cost Rs 9,921 crore, including a land cost of Rs 2,202 crore.
The consortium would be led by public-sector lender Bank of Baroda (BoB), UP power minister and state government spokesperson Shrikant Sharma said.
The loan would be raised by state nodal agency for the project UP Expressway Industrial Development Authority (UPEIDA). “The state government has decided to issue a letter of comfort undertaking to repay the banks on behalf of UPEIDA in case of any default,” he informed.
The decision was taken at the state cabinet meeting chaired by chief minister Adityanath. The project would be entirely funded by the state without any financial aid from the Centre, Sharma added.
