UP govt to raise Rs 1,100-crore Hudco loan for Purvanchal Expressway

The govt is planning to start the project around December-January after completing the tendering process

Uttar Pradesh government has decided to speed up the Purvanchal Expressway project to showcase its industrial development agenda, as a reaction to the recent meeting of top US companies' representatives with Chief Minister Yogi Adityanath to explore investment opportunities.

The government has decided to mobilise funds from public sector Housing and Urban Development Corporation Limited (Hudco) to partly finance the mega project. The expressway project is estimated to cost nearly Rs 20,000 crore.

On Tuesday, the state cabinet approved the proposal to seek Rs 1,179 crore from Hudco for land acquisition at the rate of 10.30% per annum.

Since the