MEP IDL bags Rs 1,763-cr worth contracts under hybrid annuity model

The contracts are based on EPC and BOT systems

MEP Infrastructure Developers Ltd in a joint venture (JV) with its Spanish partner has bagged contracts for Rs 1,762.98 crore under the hybrid annuity model from National Highways Authority of India (NHAI) and Ministry of Road Transport and Highways (MORTH).

“We are happy to begin the new financial year with this big news,” said Jayant D Mhaiskar, vice-chairman and managing director, MEP Infrastructure Developers Ltd.

The company received letters of award (LOAs) as per the new Hybrid Annuity Mode, which is a mix of engineering, procurement, and construction (EPC) and build operate transfer (BOT) system. The authority and the private companies share the total project cost in the ratio of 40:60 respectively. This new form will help reduce financial load during the development and execution stage, the company said in a statement.

MEP Infrastructure Developers Ltd has formed a joint venture with Sanjose India Infrastructure & Construction Pvt. Ltd with each holding 74% and 26%, respectively. The joint venture has received an LOA from MORTH for rehabilitation and up-gradation of NH-66 (Erstwhile NH-17) from km. 241/300 to km 281/300 on the Arawali-Kante section in Maharashtra to four lane with paved shoulder under NHDP IV on Hybrid Annuity Mode. The bid project cost is Rs 592.98 crore and operation and maintenance bid is for Rs 5.67 crore for the first year.

MEP JV has also received LOA from NHAI for Four Lane Stand Alone Ring Road/ Bypasses for Nagpur City Package I from Km 0+500 to Km 34+000 (Total Length – 33+500 Km) on BOT (Hybrid Annuity) basis. The bid project cost is Rs 531 crore and O&M bid is for Rs 6.30 crore for the first year.

In a third LOA from NHAI, MEP JV has been mandated for four-lane standalone ring road/bypasses for Nagpur City, Package-II from km 34+500 to km 62+035 (total length - 28+035 km) in the Maharashtra on BOT basis. The project cost is Rs 639 crore and O&M Bid is Rs 6.75 crore for the first year.

MEP IDL has also bagged LOAs from the Road Infrastructure Development Company of Rajasthan Ltd (RIDCOR) for collection of fee through contractor on the basis of competitive bidding for Lalsot-Kota Road and Alwar-Sikandra Road in Rajasthan for fee plaza [s] at the below locations. The contractual amount for the project is Rs 30.33 crore and RsBS R19.08 crore respectively.