BANK CONSORTIUM FORMED FOR B’KHAND E-WAY CONSTRUCTION
LUCKNOW : A consortium of banks was formed for construction of Bundelkhand Expressway on Tuesday. The Bank of Baroda, Union Bank of India, Bank of Maharashtra, Indian Bank, Bank of India and UCO Bank were included in the consortium. In a press statement, the spokesperson of Uttar Pradesh Expressway Industrial Development Authority (UPEIDA) said for the construction of Bundelkhand Expressway, UPEIDA had obtained a loan of Rs 5,900 crore from six banks, including Bank of Baroda, Union Bank of India, Bank of Maharashtra, Indian Bank, Bank of India and UCO Bank. Documents related to this loan were signed on August 25 between all these banks and UPEIDA.
LUCKNOW: A consortium of banks was formed for construction of Bundelkhand Expressway on Tuesday. The Bank of Baroda, Union Bank of India, Bank of Maharashtra, Indian Bank, Bank of India and UCO Bank were included in the consortium.
In a press statement, the spokesperson of Uttar Pradesh Expressway Industrial Development Authority (UPEIDA) said for the construction of Bundelkhand Expressway, UPEIDA had obtained a loan of Rs 5,900 crore from six banks, including Bank of Baroda, Union Bank of India, Bank of Maharashtra, Indian Bank, Bank of India and UCO Bank.
Documents related to this loan were signed on August 25 between all these banks and UPEIDA.
Thanking the bank officers, UPEIDA chief executive officer, Awanish Kumar Awasthi said even in the corona transition period, banks had approved the loan on a priority basis.
Due to the support of the banks the consortium had been established for Bundelkhand Expressway project.
The Bank of Baroda (BoB) has accepted the leadership of this consortium.
Appreciating the bank’s initiative, Awasthi said the funding of the project would give stimulus to the construction work of the project and generate employment in the villages in this time of crisis.
The bank officers also expressed gratitude for the establishment of the consortium and thanked Awasthi for his full support.
UCO Bank’s zonal manager Om Prakash Verma handed over a loan acceptance letter of
› Even in the corona transition period, banks had approved the loan on a priority basis. Due to the support of the banks the consortium had been established for Bundelkhand Expressway project and The the Bank of Baroda has accepted the leadership of this consortium. AWANISH KUMAR AWASTHI, chief executive officer, UPEIDA
Rs. 500 crore to Awasthi for including UCO Bank in the consortium of banks established under the leadership of Punjab National Bank for financing the Purvanchal Expressway project.
The amount of bank loan sanctioned for the Purvanchal Expressway project has reached Rs. 11300 crore.
Thanking the UCO bank, Awasthi said its contribution in financing the ongoing project would give momentum to the construction of Purvanchal Expressway. Now there was no problem in funding for Purvanchal Expressway project and UPEIDA would complete it before the scheduled time, he said.