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MEP Infra’s arm receives Appointed Date for Mahuva – Kagavadar project

MEP Infrastructure Developers’ subsidiary – MEP Sanjose Mahuva Kagavadar Road (MEPMK) has received May 15, 2017 as the Appointed Date for Mahuva to Kagavadar project from NHAI. MEPMK had entered into concession agreement with The National Highways Authority of India (NHAI) on August 09, 2016 for 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) in Gujarat on HAM under NHDP PhaseIV.

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. 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 March 31, 2017.

MEP Infrastructure Developers is engaged in tolling operations of the road infrastructure sector, with a pan-India presence. MEP Infra is in the business of pure toll collection projects as well as OMT projects, which involve maintenance obligations in addition to toll collection on operational roads (including highways) constructed by third parties.

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