MEPIDL achieves financial closure for its fifth hybrid annuity project-

MEPIDL achieves financial closure for its fifth hybrid annuity project-

The project is a part of the Bhavnagar – Veraval stretch in Gujarat-

India, March 10th, 2017: MEP Infrastructure Developers Limited (‘MEPIDL; BSE: Script Code: 539126; NSE Script Code: MEP) today announced the successful financial closure of its Hybrid Annuity project in Gujarat (Talaja-Mahuva section) in accordance with the Concession Agreement executed with the National Highways Authority of India (NHAI).  The said project are a part of the Bhavnagar – Veraval stretch in the state of Gujarat.

 The Bid project cost of the project is Rs.643.05 Crores out of which Project finance will contribute Rs. 289.37 Crores and remaining will be funded by grant from NHAI and equity contribution by the Company.

This project will be funded by IDBI Bank, IIFCL and Bank of India.

MEP is currently one of the largest players in the Hybrid Annuity space with 6 successful bids in recent times for projects across Maharashtra and Gujarat worth around 3836.99 crores.  The Company has now achieved financial closure of 5 (Five) of its HAM Projects which were awarded by the Authority and successfully tied up total project finance to the tune of Rs. 1454.54 Crores towards all 5 (Five) HAM Project

Key highlights of the Project are as under:

Talaja – Mahuva section – Four Laning of Talaja – Mahuva section of NH-8E 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 under NHDP Phase IV on Hybrid Annuity Mode.

1.     Construction Period:  30 Months form 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).

Brief About MEP Infrastructure Developers Ltd
•MEP Infrastructure Developers Ltd. (BSE Script Code: 539126; NSE Script Code: MEP) an established and leading Infrastructure player, with pan India footprint in OMT and tolling operations in the road infrastructure sector has recently made it’s foray into the EPC space with the win of 6 HAM projects in Maharashtra and Gujarat.

·       MEP commenced its business in December 2002, with collection of toll at the five Mumbai Entry Points and as on date, the Company has completed 107 projects, with an aggregate of 201 toll plazas and 1238 lanes.

·       The company currently has 16 operational projects–12 toll collection projects (20  toll plazas) in 7 states, 3 OMT projects (covering 1,361.32 lane kms and 9 toll plazas) and 1 BOT project (covering 42 lane km and 5 toll plazas.