MEP Infrastructure today said it has won a highways project from NHAI in Gujarat in a joint venture (JV) with its Spanish partner at a bid cost of Rs 643 crore.
MEP Infrastructure Developers Ltd in a JV with its Spanish partner has received Letter of Award from National Highways Authority of India (NHAI) for a project under the Hybrid Annuity namely four laning of Talaja-Mahuva section in Gujarat with bid project cost Rs 643.05 crore, the company said in a statement.
"We have been able to maintain our winning run after being declared as successful bidder (L1) for the consecutive 5th project in last 8 weeks' time for the Hybrid Annuity project.
We are happy to enter Gujarat for Hybrid Annuity Project and we are confident of completing the projects in a stipulated time frame and with the desired quality to play a significant role in the country's infrastructure development," said Jayant D Mhaiskar, Vice-Chairman and Managing Director, MEP Infrastructure Developers Ltd.
The project is under 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.
MEP Infrastructure Developers Ltd has formed a joint venture with Sanjose India Infrastructure & Construction Pvt Ltd with two holding a share of 60 per cent and 40 per cent.