UPEIDA, Bank of India and Central Bank of India sign loan agreement for Purvanchal Expressway project

The Uttar Pradesh Expressways Industrial Development Authority has signed a loan agreement worth Rs 15 billion with the Bank of India and the Central Bank of India for the Lucknow-Ballia Expressway project (Purvanchal Expressway). With the new agreement, the total loan amount from various banks for the expressway has crossed Rs 105 billion. The project involves the construction of a 340.82 km access-controlled greenfield expressway from Chandsarai node near Lucknow to Haideria node in Ghazipur district of Uttar Pradesh, at an estimated cost of Rs 225 billion. It is to be built along the lines of the Agra-Lucknow Expressway, and will connect Lucknow to Ballia by passing through Barabanki, Sultanpur, Faizabad, Ambedkar Nagar, Azamgarh, Mau and Ghazipur and touching Ballia at Bharauli.