Bank of Baroda Sanctions Rs 2,000 Cr Loan For Bundelkhand Expressway
Bundelkhand Expressway has taken a step ahead towards its reality as the Bank of Baroda has sanctioned a loan of Rs 2,000 crore for the ambitious Expressway project, according to a release issued on September 5, 2019, by the Uttar Pradesh government. The state government has approved the project cost of about Rs 14,850 crore out of which Rs 7,000 crore will be raised by UPEIDA as consortium loan from banks and the balance investment amount shall be made available to UPEIDA by the state government.
UP Approves Bundelkhand Expressway; Construction To Start In October 2019
In a move that would connect the interior regions of the state, the Uttar Pradesh government on August 21, 2019, gave its approval for the Bundelkhand Expressway project. Construction work on the 290-km expressway is likely to start in October 2019.
The chief minister Yogi Adityanath-led government had first unveiled its plan to build the project in April 2017 to boost economic development in the interior regions through improved connectivity. The Bundelkhand Expressway will be connected to Agra-Lucknow Expressway and Agra-Noida Expressway, for linking the Delhi-national capital region with eastern UP.
The project will be implemented by the UP Expressways Industrial Development Authority and is expected to be completed in 30 months, in six phases. About 90 per cent of the land required for building the expressway has already been acquired. The remaining land would be acquired in the next two months. The state government is also planning to create a defence corridor along the expressway for which the land acquisition is being done by UPEIDA. The project tender is expected to be floated soon for selecting the construction company.
The expressway will start from Jhansi and will pass through Chitrakoot, Banda, Hamirpur, Auraiya and Jalaun. From Jalaun, it will go to Etawah and reach Naseempur via Bateshwar in Agra before joining the Agra-Lucknow Expressway.
Upon completion, the expressway will reduce the travel time between New Delhi and Chitrakoot to six hours. The four-lane controlled-access highway is going to be built at an estimated cost of Rs 14,849 crores.