MEP SANJOSE Talaja Mahuva Road, a subsidiary of MEP Infrastructure Developers, has achieved the financial closure as per the Concession Agreement executed with the National Highways Authority of India (NHAI).
The agreement dated July 8, 2016 is for the project of Four Laning of TALAJA – MAHUVA Section of NH – BE from Km 53.585 to Km. 100.100 (design chainage from Km 54.990 to Km 100.450) (PACKAGE – II) in the state of Gujarat on Hybrid Annuity Mode under NHDP Phase IV by tying up of Project finance of Rs 289.37 crore.
The project cost is Rs 643.05 crore out of which project finance will contribute Rs 289.37 crore and remaining will be funded by grant from NHAI and equity contribution of the Subsidiary Company.
The construction period for the project is 2.5 years from the appointed date and the concession period is 15 years (excluding construction period of 2.5 years). The company will receive Bi-Annual Annuity from NHAI post Commercial Operation Date (COD).