The Adani Group is in negotiations with the State Bank of India to obtain roughly Rs 12,000 crore in long-term project loans for the construction of the Ganga Expressway, which would run from Meerut in Uttar Pradesh’s northwest to Prayagraj in the state’s east.
According to three persons familiar with the situation, SBI is conducting a road traffic assessment before finalising loan terms.
The Uttar Pradesh government awarded Adani Enterprises contracts to develop three portions of the 594-kilometer Ganga Expressway in December. IRB Infrastructure was awarded the fourth segment, which accounts for 80% of the entire project.
