PNB To lead consortium of banks lending to UP's Gorakhpur Link Expressway

State govt will borrow Rs 2,250 crore in all for the project, PNB's share stands at Rs 750 crore

Punjab National Bank (PNB) will lead the consortium of banks that are providing financial assistance to the 91-kilometre-long Gorakhpur Link Expressway project in Uttar Pradesh.

The UP cabinet has approved a proposal in this regard. PNB is providing a Rs 750 crore loan for the expressway project. The state government will borrow Rs 2,250 crore in all to complete the project. According to Chief Executive Officer (CEO) of UP Industrial and Expressways Authority (UPIEDA), Awaneesh Awasthi, Union Bank of India, Canara Bank, Indian Bank, Uco Bank, Bank of India and Bank of Maharashtra will be part of the consortium led by