MEP Longjian CLR Enters Concession Agreement With NHAI For Road Project
MEP Longjian CLR Private Limited - Subsidiary Company of the MEP Infrastructure Developers Limited had entered into a Concession Agreement with the National Highways Authority of India(NHAI) dated for the project of Four Laning of Chakur - Loha Section of NH-361 from km. 114.600 to km. 187.800 (Design length 73.345 km.) under NH (0) in the State of Maharashtra on Hybrid Annuity Mode.
Key highlights of the Project are as under:
1. Construction Period: 2 years from the Appointed Date.
2. Concession Period: 15 years (excluding Construction Period of 2 years).
3. The Company will receive Bi-Annual Annuity from NHAI post-Commercial Operation Date(COD).
MEP Longjian CLR Private Limited had achieved the Financial Closure in terms of the concession agreement executed with NHAI ("the Authority"), by tying up of Project Finance of Rs. 480.05 Crores on March 11, 2019.
The Authority now has given March 25, 2019, as the Appointed Date for the project vides letter dated March 25, 2019.