Brief: MEP Infrastructure Developers says unit gets financial closure as per concession agreement with India's road ministry

MEP Infrastructure Developers

19/01/2017 12:55

Jan 19 (Reuters) - Mep Infrastructure Development Ltd 
 MPIN.NS  
    * MEP Sanjose Arawali Kante Road Private achieved the 
financial closure as per  concession agreement executed with 
india's road ministry 
 
Source text: (MEP Infrastructure Developers Limited has informed 
the Exchange ''We wish to inform you that MEP SANJOSE Arawali 
Kante Road Private Limited Subsidiary Company of the Company, 
has achieved the financial closure as per the Concession 
Agreement executed with the Ministry of Road Transport and 
Highways ( MORTH ) dated June 28, 2016 for the Rehabilitation 
and up-gradation of NH-66 (Erstwhile NH-17) from km.241/300 to 
km 281/300 [Arawali Kante section] to Four Lane with paved 
shoulder in the State of Maharashtra under NHDP IV on Hybrid 
Annuity Mode (HAM) by tying up of Project finance of Rs.266.84 
Crores.The Bid project cost is Rs.592.98 Crores out of which 
Project finance will contribute Rs.266.84 Crores and remaining 
will be funded by grant from MORTH and equity contribution by 
the Subsidiary Company.The Company has now achieved financial 
closure of 4 (Four) of its HAM Projects which were awarded by 
the Authority) 
Further company coverage:  MPIN.NS  
 
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