Adani Enterprises Ltd (AEL), the flagship incubator of the Adani Group, has secured a Letter of Award (LoA) from National Highways Logistics Management Ltd (NHLML) to construct a ropeway between Sonprayag and Kedarnath, at a total investment of ₹4,081 crore.
Project Details
The ropeway, spanning 12.9 kilometres, will be developed by AEL’s roads, metro, rail, and water (RMRW) division. Once operational, it will dramatically cut travel time to the Kedarnath shrine from an arduous 8–9 hour trek to just 36 minutes.
Designed with a carrying capacity of 1,800 passengers per hour per direction, the project will serve the nearly 20 lakh pilgrims who visit Kedarnath every year.
Implementation & Model
The ropeway is being developed under the National Ropeways Development Programme – Parvatmala Pariyojana and will follow a public-private partnership (PPP) model on a revenue-share basis with NHLML. The project is slated for completion in six years, after which AEL will operate it for 29 years.
Gautam Adani on the Project
Calling the initiative a blend of devotion and modern infrastructure, Gautam Adani, Chairman of the Adani Group, said:
“By making this sacred journey safer, faster, and more accessible, we honour the faith of millions while creating new opportunities for Uttarakhand’s people through our partnership with NHLML and the government of Uttarakhand. This prestigious project reflects our commitment to building infrastructure that not only serves the nation but also uplifts its people.”
Market Reaction
Despite the announcement, Adani Enterprises’ stock closed 0.5% lower on Monday, September 15. The stock has fallen nearly 7% year-to-date, reflecting broader market volatility.
Summary
- Project Awarded: AEL bags ₹4,081 crore ropeway project from NHLML.
- Route: Sonprayag to Kedarnath, spanning 12.9 km.
- Travel Time: To be cut from 8–9 hours to just 36 minutes.
- Capacity: 1,800 passengers per hour per direction.
- Model: PPP under Parvatmala Pariyojana; 6 years to build, 29 years of operation.
- Chairman’s View: Gautam Adani calls it a bridge between faith and infrastructure.
- Market Update: Shares ended 0.5% lower; stock down 7% YTD.
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