MEP Infrastructure Developers Limited has been given April 25, 2017, as the Appointed Date for its Hybrid Annuity project in Gujarat (the Talaja-Mahuva section) in accordance with the Concession Agreement executed with the National Highways Authority of India (NHAI). The project is a part of the Bhavnagar-Veraval stretch.
The bid project cost is Rs 643.05 crore, out of which project finance will contribute Rs 289.37 crore and the remainder will be funded by a grant from NHAI and equity contribution by the company.
This project will be funded by IDBI Bank, IIFCL and Bank of India. MEP is one of the largest players in the Hybrid Annuity space, with six successful bids in recent times for projects across Maharashtra and Gujarat worth around Rs 3,836.99 crore.
MEP has already achieved financial closure for all of its six HAM projects which were awarded by the authority and successfully tied up total project finance to the tune of Rs 1,726.65 crore towards all these projects.
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