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17-Oct2016

MEP Infrastructure's arm achieves financial closure for Nagpur City Package I

MEP Infrastructure Developers' subsidiary company - MEP Nagpur Ring Road 1, has achieved the financial closure within the stipulated time in accordance with the concession agreement executed with 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, by tying up of project finance of Rs 238.95 crore.

The bid project cost is Rs 531.00 crore out of which project finance will contribute Rs 238.95 crore and remaining will be funded by grant from NHAI and equity contribution by the company. The construction period is 30 months from the appointed date while the concession period is 15 years (excluding construction period of 30 months). The company will receive Bi-Annual Annuity from NHAI post Commercial Operation Date (COD).

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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