Appointed date for project is 15 May 2017
MEP Infrastructure Developers announced that its subsidiary, MEP Sanjose Mahuva Kagavadar Road had entered into Concession Agreement with The National Highways Authority of India (NHAI) dated 09 August 2016 for Four Laning of Mahuva to Kagavadar of NH-8E from km100.100 to km139.915 (design chainage from km100.450 to km140.470)(PackageIII) in Gujarat on HAM under NHDP Phase IV.
Key highlights are:
(i)Construction Period:2.5 years from Appointed Date
(ii)Concession Period:15 years (excluding Construction Period of 2.5 years)
(iii)The Co will receive Bi-Annual Annuity from NHAI post Comm Operation Date(COD).
(iv)The Bid project cost is 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 contributed by the Company.
MEPMK had achieved the Financial Closure in terms of Concession Agreement executed with NHAI, by tying up of Project Finance of Rs.272.11 crore on 31 March 2017. NHAI now has given 15 May 2017 as the Appointed Date for the project vide letter dated 22 May 2017.
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