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IRB Infra arm achieves financial closure for Rs 6,538-cr project in UP

A consortium of lenders extended financial support of Rs 2,659 crore for the six-lane greenfield expressway corridor of 129.700 km (expandable to eight lanes) between Meerut and Budaun in UP

Topics
IRB Infrastructure Developers | Expressway | Uttar Pradesh

Press Trust of India  |  New Delhi 



National Highways, NHAI
The Ganga Expressway Group 1 is a greenfield project to be carried out under Build, Operate and Transfer (BOT) mode.

Developers Ltd on Thursday said its special purpose vehicle and wholly-owned subsidiary Meerut Budaun Pvt Ltd has achieved the financial closure for the Rs 6,538-crore project in .

The Group 1 is a greenfield project to be carried out under Build, Operate and Transfer (BOT) mode.

The company in a statement said that a consortium of lenders extended financial support of Rs 2,659 crore for the six-lane greenfield corridor of 129.700 km (expandable to eight lanes) between Meerut and Budaun in .

said that project concession period is for 30 years with traffic link extension provision of six years, including three years construction period, and the company will start construction in full swing in the next couple of months.

Developers chairman and managing director Virendra D Mhaiska said the company is mobilising the resources to commence construction in full swing in next couple of months.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, June 16 2022. 16:16 IST

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