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Meerut Budaun Expressway, an SPV and subsidiary of IRB Infrastructure Developers (IRB Infra), has achieved financial closure for the ambitious Ganga Expressway Group 1 Greenfield BOT project in Uttar Pradesh. The project is to build, operate and transfer the six lane greenfield expressway corridor of 129.7 km (expandable to eight lanes), with a cost outlay of `65.38 billion. While commenting on the development, Virendra D Mhaiskar, Chairman & Managing Director, IRB Infra, said, 鈥淭his is the largest greenfield BOT project thus far in our portfolio. We are grateful to our lenders for, again, showing high trust and confidence in our rich domain expertise and execution capabilities developed and demonstrated over the last two decades.鈥� He added, 鈥淐ompany is mobilising the resources to commence construction in full swing in the next couple of months. With assurance of a world class construction without any compromise on quality and safety, we will endeavour for timely completion of the project.鈥� With this, all the projects in the portfolio have been financially closed, which helps the company in focusing on upcoming opportunities in the sector. The project entails an equity infusion of Rs.21.33 billion and has a viability gap funding of Rs.17.46 billion. The project has a concession period of 30 years, with the provision of traffic linked extension of 6 years.