You are here: Home » News-CM » Companies » News
Business Standard

MEP Infrastructure Developers achieves financial closure for road project

Capital Market 

In Nagpur, Maharashtra

MEP Infrastructure Developers announced that MEP Ring Road 1 -Subsidiary Company of the Company, has achieved the financial closure within the stipulated time in accordance with the Concession Agreement executed with NHAI dated 19 May 2016 for Four Laning Stand Alone Ring Road/ Bypass for the City Package I from Km 0+500 to Km 34+000 (Design 33+500 Km) in the State of on BOT (Hybrid Annuity) basis, by tying up of Project finance of Rs. 238.95 crore.

The Bid project cost is Rs. 531.00 crore out of which Project finance will contribute Rs. 238.95 crore and remaining will be funded by grant from NHAI and equity contribution by the Company.

Key highlights of the Project are as under:
1) Construction Period: 30 Months from the Appointed Date.
2) Concession Period: 15 years (excluding Construction Period of 30 Months).


3) The Company will receive Bi-Annual Annuity from NHAI post Commercial Operation Date (COD).

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

MEP Infrastructure Developers achieves financial closure for road project

In Nagpur, Maharashtra

In Nagpur, Maharashtra

MEP Infrastructure Developers announced that MEP Ring Road 1 -Subsidiary Company of the Company, has achieved the financial closure within the stipulated time in accordance with the Concession Agreement executed with NHAI dated 19 May 2016 for Four Laning Stand Alone Ring Road/ Bypass for the City Package I from Km 0+500 to Km 34+000 (Design 33+500 Km) in the State of on BOT (Hybrid Annuity) basis, by tying up of Project finance of Rs. 238.95 crore.

The Bid project cost is Rs. 531.00 crore out of which Project finance will contribute Rs. 238.95 crore and remaining will be funded by grant from NHAI and equity contribution by the Company.

Key highlights of the Project are as under:
1) Construction Period: 30 Months from the Appointed Date.
2) Concession Period: 15 years (excluding Construction Period of 30 Months).
3) The Company will receive Bi-Annual Annuity from NHAI post Commercial Operation Date (COD).

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

MEP Infrastructure Developers achieves financial closure for road project

In Nagpur, Maharashtra

MEP Infrastructure Developers announced that MEP Ring Road 1 -Subsidiary Company of the Company, has achieved the financial closure within the stipulated time in accordance with the Concession Agreement executed with NHAI dated 19 May 2016 for Four Laning Stand Alone Ring Road/ Bypass for the City Package I from Km 0+500 to Km 34+000 (Design 33+500 Km) in the State of on BOT (Hybrid Annuity) basis, by tying up of Project finance of Rs. 238.95 crore.

The Bid project cost is Rs. 531.00 crore out of which Project finance will contribute Rs. 238.95 crore and remaining will be funded by grant from NHAI and equity contribution by the Company.

Key highlights of the Project are as under:
1) Construction Period: 30 Months from the Appointed Date.
2) Concession Period: 15 years (excluding Construction Period of 30 Months).
3) The Company will receive Bi-Annual Annuity from NHAI post Commercial Operation Date (COD).

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard