Appointed date of project is 25 April 2017
MEP Infrastructure Developers announced that MEP Sanjose Talaja Mahuva Road (MEPTM), a Subsidiary Company of our Company, had entered into Concession Agreement with The National Highways Authority of India(NHAI) dtd 08 July 2016 for Four Laning of TALAJA MAHUVA Sec of NH8E from KM.53.585TOKM.100.100 (design chainage from KM.54.990TOKM.100.450)(PACKAGEII)in Gujarat on HAM under NHDP Phase IV.
Key highlights are
(1)Const Period:2.5 yrs from the Appointed Date
(2)Concession Period:15yrs(excluding Construction Period of 2.5yrs)
(3)The Co will receive Bi-Annual Annuity from NHAI post Comm Operation Date(COD)
(4)The Bid Project Cost is Rs.643.05 crore out of which Project Finance will contribute Rs.289.37 crore and remaining will be funded by grant from NHAI and equity contribution by the Company.
MEPTM had achieved the Financial Closure in terms of the Concession Agreement executed with NHAI (the Authority), by tying up of Project Finance of Rs.289.37 crore on 09 March 2017. Authority now has given 25 April 2017 as Appointed Date for the project vide letter dated 01 May 2017.
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