Mumbai-based MEP Infrastructure Developers Ltd (MEP), through a subsidiary of the company, has a signed concession agreement for a road project worth approximately Rs 605 crore from NHAI in the state of Gujarat.

“MEP Sanjose Mahuva Kagavadar Road Pvt Ltd (MEPMK), a subsidiary company of our company, had entered into a concession agreement with the National Highways Authority of India (NHAI) dated August 9, 2016, for the project of four laning of Mahuva to Kagavadar of NH-8E from km 100.100 to km 139.915 (design chainage from km. 100.450 to km 140.470) (package-III) in the state of Gujarat on hybrid annuity mode under NHDP phase IV,” MEP Infra said in a statement on Tuesday.

According to the statement, the company has received May 15, 2017 as the appointed date for the project. The construction period of the project is 2.5 years from appointed date and the concession period is for 15 years (excluding construction period of 2.5 years). The company will receive bi-annual annuity from NHAI post Commercial Operation Date (COD).

The bid project cost is Rs 604.68 crore, out of which project finance will contribute Rs 272.11 crore and remaining will be funded by grant from NHAI and equity contribution by the company, it said.

“MEPMK had achieved the financial closure in terms of the concession agreement executed with NHAI, by tying up of project finance of Rs 272.11 crore on March 31, 2017,” it added.

MEP Infrastructure Developers Ltd is engaged in providing of civil contractors and road construction contractors services.

here is company details.

 

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