In a landmark achievement, Vishwa Samudra Engineering (VSE) has secured a EUR 40 million loan from a Swiss bank for the Varanasi Ropeway Project, India’s first urban ropeway, under NHAI’s National Highway Logistics Management Ltd. This funding, celebrated at the Export Financing Conference in New Delhi, marks a new era of foreign investment in Indian infrastructure.
Milestone Celebration & Key Discussion Points:
At the Export Financing Conference in New Delhi, VSE celebrated this landmark achievement. Mr. Shivdutt Das, VSE’s Executive Director, shared insights during an expert panel, focusing on ECA-backed financing benefits. The panel highlighted the importance of VSE’s financing approach, with SERV, Switzerland’s Export Credit Agency, playing an instrumental role.
Government Support & Vision:
Union Minister for Road Transport & Highways, Hon’ble Nitin Gadkari, delivered the keynote, underscoring the government’s commitment to alternative financing methods for ambitious infrastructure projects.
Insights:
Mr. Shivdutt Das, Executive Director of VSE, said “This impressive financing underlines VSE’s strong European investment strategy and commitment to securing competitive funding terms, which are essential for pioneering projects like the Varanasi Ropeway.” We are paving the way for future foreign investments, presenting a blueprint for other Indian infrastructure companies to explore international financing as a viable alternative to domestic sources, while strengthening India’s position in the global infrastructure landscape.
About the Varanasi Ropeway Project:
Located in the Prime Minister’s constituency, this ropeway will be India’s first urban installation of its kind, promoting sustainable transport. Technology partner Bartholet Maschinenbau AG, Switzerland, will facilitate equipment manufacturing and export to India.
Conclusion:
This Swiss-backed funding not only empowers the Varanasi Ropeway Project but also signals a new era for foreign investment in India’s infrastructure. Vishwa Samudra Engineering’s success opens doors for innovative financing avenues, strengthening India’s push towards modern, sustainable urban transport solutions.
Source: Vishwa Samudra Engineering – Press Release | Images Credit: Vishwa Samudra Engineering