MEP Infrastructure Developers achieves financial closure for NHAI project in Maharashtra

MEP Infrastructure Developers announced that MEP Longjian VTR Road, Subsidiary Company of the Company, has achieved financial closure as per the Concession Agreement executed with NHAI dt. 04 July 2018 for the project of Construction of Eight Laning of existing Four Lane Vadape to Thane from km. 539.202 to km. 563.000 Section of NH-3 (new NH-848) in the State of Maharashtra to be executed on Hybrid Annuity Mode by tying up of Project finance of Rs. 567.78 crore.

The Bid project cost is Rs 1182.87 crore out of which Project finance will contribute Rs. 567.78 crore and remaining contribution will be funded by grant of Rs. 473.15 crore from NHAI and Equity Contribution of Rs. 141.94 crore of the Subsidiary Company.

Key highlights of the Project are(1)Construction Period:2.5 years from the Appointed Date(2)Concession Period:15 years (excluding Construction Period of 2.5 years)(3)The Company will receive Bi-Annual Annuity from NHAI post Commercial Operation Date (COD).

Powered by Capital Market - Live News