MEP Bags 4 - Laning Road Contract From NHAI In Nagpur
MEP Nagpur Ring Road 1 Private Limited ("MEP NRR1") a subsidiary company of MEP Infrastructure Developers Limited, had entered into a concession agreement with The National Highways Authority of India ("NHAI") dated May 19, 2016 for four laning stand alone ring road/ bypass for the Nagpur City Package I from Km 0+500 to Km 34+000 (Design 33+500 Km) in the state of Maharashtra on BOT (Hybrid Annuity) basis.
Key highlights of the project follows..
1. Construction period: 30 months from the appointed date.
2. Concession period: 15 years (Excluding construction period of 30 months).
3. The company will receive bi-annual annuity from NHAI post commercial operation date (COD).
4. The bid project cost is Rs. 5310.0 million out of which project finance will contribute Rs. 2389.5 million and remaining will be funded by grant from NHAI and equity contribution by the company.
MEP NRR1 had achieved the financial closure in terms of the concession agreement executed with NHAI ("the Authority"), by tying up of project finance of Rs.2389.5 million on October 14, 2016.
The authority now has given January 5, 2017 as the appointed date for the project vide letter dated January 9, 2017.
- Issued By:NATIONAL HIGHWAYS AUTHORITY OF INDIA
- Bagged By:
- Region:Western India
- Value:INR 5310 Million
- Published On:2017-01-11