[ecis2016.org] Prime minister Narendra Modi has laid the foundation stone of the 296-km-long Bundelkhand Expressway, to be built at a cost of Rs 15,000 crores
Prime minister Narendra Modi, on February 29, 2020, laid the foundation stone of the 296-km-long Bundelkhand Expressway, which will pass through Uttar Pradesh’s Chitrakoot, Banda, Hamirpur and Jalaun districts. It will link the Bundelkhand region, considered to be one of the most backward areas of the country, to national capital Delhi through the Agra-Lucknow Expressway and the Yamuna Expressway.
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“The project will put Bundelkhand on the development expressway. It will definitely change people’s lives in this entire region,” the prime minister said after laying the foundation of the Expressway. “To come up at a cost of around Rs 15,000 crores, this project will create thousands of job opportunities and connect the common people with facilities in bigger cities,” he said. “This area of Bundelkhand is going to become a big centre of ‘Make in India’. The things produced here will be exported across the world. Once big factories are set up, smaller industrial units will also gain,” Modi said. The prime minister said that ‘a provision of Rs 3,700 crores has been made for the Uttar Pradesh Defence Corridor in this year’s budget. The Expressway will be supplementing the nodes of the Uttar Pradesh Defence Industrial Corridor announced by the central government in February 2018.
Bank of Baroda sanctions Rs 2,000 crore loan for Bundelkhand Expressway project
In what is being called a milestone in the construction of the Bundelkhand Expressway, the UP government has shared that the Bank of Baroda has sanctioned a loan of Rs 2,000 crores for the project
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September 6, 2019: The Bank of Baroda has sanctioned a loan of Rs 2,000 crores for the ambitious Bundelkhand Expressway project, according to a release issued by the Uttar Pradesh government. For the financing of this project, Bank of Baroda managing director and CEO, PS Jaykumar had given an in-principle commitment of Rs 1,500 crores but on the initiative of the chief minister, the bank has now sanctioned an investment of Rs 2,000 crores for this project, as a part of the consortium loan of Rs 7,000 crores, the release said.
With this initiative, other banks would also be able to fast-track the loan proposals under their consideration and the UPEIDA would be able to attain expeditious financial closure of the loan of Rs 7,000 crores for this project, with the approval of the state government. The release also added that the Industrial Corridor and the Defence Corridor proposed by the state government alongside the Bundelkhand Expressway, shall further add to the industrial and economic activities in this area.
Quoting the CEO of UPEIDA, Awanish Awasthi, the release shared that for the Bundelkhand Expressway Project, the state government has approved the project cost of nearly Rs 14,850 crores out of which Rs 7,000 crores shall be raised by the UPEIDA as a consortium loan from banks and the balance investment amount shall be made available to the UPEIDA by the state government. Currently, Rs 2,000 crores shall be invested by Bank of Baroda. The bank has also agreed to play the role of the Leader of Consortium being formed by the UPEIDA.
Work on Bundelkhand Expressway to start in October 2019: UP government
Work on the Bundelkhand Expressway in UP, which will connect the backward regions in the state to the national capital, is likely to start in October 2019 and be completed in 30 months, the state government has said
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August 20, 2019: The Uttar Pradesh government, on August 20, 2019, said that the construction of the over 290-km-long Bundelkhand Expressway, a four-lane controlled-access highway linking the backward regions in the state, to the national capital, will start in October 2019. The Expressway will have connectivity to the Agra-Lucknow Expressway and the Agra-Noida Expressway.
Briefing reporters after a meeting of the state cabinet chaired by chief minister Yogi Adityanath, additional chief secretary (information) and UP Expressways Industrial Development Authority CEO Awanish Awasthi, said the project will be completed in 30 months. He said 90% of the land needed for the project had been acquired and acquisition of the remaining 10% would be completed in two months. “The land of farmers have been acquired at four times the existing rate,” he added.
The expressway will start from Jhansi and will pass through the state’s most backward districts like Chitrakoot, also a religious and tourist spot, 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. The Expressway will reduce the travel time between New Delhi and Chitrakoot to six hours.
Source: https://ecis2016.org/.
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