MEP Longjian Enters Concession Agreement With NHAI
MEP Longjian VTR 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 July 4, 2018, for the project of Construction of 8 (Eight) Laning of existing 4 (Four) Lane Vadape to Thane from km. 539.202 to km. 563.000 Section of NH-3 (new NH-848) in the State of Maharashtra to be executed on Hybrid Annuity Mode.
Key highlights of the Project are as under:
1. Construction Period: 2.5 years from the Appointed Date.
2. Concession Period: 15 years (excluding Construction Period of 2.5 years).
3. The Company will receive Bi-Annual Annuity from NHAI post-Commercial Operation Date (COD).
MEP Longjian VTR 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. 567.78 Crores on January 1, 2019. The Authority now has given January 21, 2019, as the Appointed Date for the project vide letter dated January 23, 2019.