Updates

MEP Sanjose Talaja Mahuva Road Pvt Ltd(MEPTM) a Subsidiary Company of our Company,had entered into Concession Agmt with The National Highways Authority of India(NHAI) dtd 08/07/2016 for Four Laning of TALAJA MAHUVA Sec of NH8E from KM.53.585TOKM.100.100(design chainage from KM.54.990TOKM.100.450)(PACKAGEII)in Gujarat on HAM under NHDP Phase IV.Key highlights are(1)Const Period:2.5 yrs from the Appointed Date(2)Concession Period:15yrs(excluding Construction Period of 2.5yrs)(3)The Co will receive Bi-Annual Annuity from NHAI post Comm Operation Date(COD)(4)The Bid Project Cost is Rs.643.05Crs out of which Project Finance will contribute Rs.289.37Crs and remaining will be funded by grant from NHAI and equity contri by the Co.MEPTM had achieved the Financial Closure in terms of the Concession Agreement executed with NHAI (the Authority),by tying up of Project Finance of Rs.289.37Crs on 09/03/2017. Authority now has given 25/04/2017 as Appointed Date for the project vide ltr dtd 01/05/2017.

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Source : BSE - www.bseindia.com

Published on May 02, 2017
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