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Bundelkhand expressway: Technical bids of 18 firms opened
With the opening of technical bids of 18 companies on Tuesday, UP government fast tracked the 296-km Bundelkhand Expressway Project starting from Bharatkoop in Chitrakoot
With the opening of technical bids of 18 companies on Tuesday, UP government fast tracked the 296-km Bundelkhand Expressway Project starting from Bharatkoop in Chitrakoot district and expected to bring employment opportunities in the Bundelkhand region, infamous for migration of youths.
The project, costing Rs 14,850 crore, has been divided into six parts, and for each part a separate technical bid has been invited.
The government would also open financial bids by the end of this month that would expedite the construction work of the expressway that would pass through Banda, Hamirpur, Jalaun, Auraiya and it would end at Kudrail village in Bharthana in Etawah district, according to the officials.
Chief executive officer (CEO), UPEIDA, Awanish Kumar Awasthi, said that after opening of financial bids by the end of this month, construction work of the expressway would start soon.
“For the expressway, 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 the UPEIDA as consortium loan from banks,” said Awasthi.
“The remaining investment amount will be made available to the UPEIDA by the state government. Out of this loan, Rs 2000 crore will be invested by Bank of Baroda,” he said.
The four-lane expressway, expandable upto six-lane, has been planned by the state government as part of its development plan for the drought-hit Bundelkhand region.
According to Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), the nodal body for executing the project, the government has also planned to open commercial establishments along this expressway. The Bundelkhand Expressway and the Defence Corridor project in Bundelkhand would be executed together to keep pace with other development projects in the region, said an industry official.
Earlier this month, the Bank of Baroda has already approved a loan of Rs 2000 crore to the state government for financing the Bundelkhand Expressway project. This loan was part of the consortium loan of Rs 7,000 crore which the Yogi government had sought for the Bundelkhand Expressway Project.
With sanctioning of this loan, other banks would 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 crore for this project with the approval of the government.
