Mep Infrastructure Developers Ltd - Updated - Financial Closure

| Updated on January 01, 2019 Published on January 01, 2019

MEP : MEP Infrastructure Developers Limited has informed the Exchange regarding MEP Longjian VTR Road Pvt. Ltd.-Subsidiary Company of the Company, has achieved financial closure as per the Concession Agreement executed with NHAI dt. July 4, 2018 for the project of Construction of Eight Laning of existing 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 by tying up of Project finance of Rs. 567.78Cr The Bid project cost is 1182.87Cr out of which Project finance will contribute Rs. 567.78Cr and remaining contribution will be funded by grant of Rs. 473.15Cr from NHAI and Equity Contribution of Rs. 141.94Cr of the Subsidiary Company. Key highlights of the Project are(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).

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Source : BSE - www.bseindia.com

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Published on January 01, 2019
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