– With this announcement, the company has now received appointed dates for both Nagpur Ring Road projects: Package I & II –
Mumbai, January 19th 2017 (GPN) : MEP Infrastructure Developers Ltd (BSE: Script Code: 539126; NSE Script Code: MEP) has received the letter of appointed date (of 20th January) from the National Highways Authority of India (NHAI) for the 4 laning of the Outer Ring Road from Village Fetri to Village Dhargaon(Package II) Total Length 28.05 Kms. With this announcement, the company has now received the Appointed Date for both its road construction projects in Nagpur, Package I (4 laning of the Outer Ring Road from Village Jamtha to Village Fetri in Nagpur City,Total Length 33.50 Kms) and Package II.
The company had achieved financial closure for the said projects in October 2016 and the projects will be funded by IDBI, IIFCL and Mumbai District Central Co-operative Bank.
Details of the project:
- Nagpur City Package- I from Km 0+500 to Km 34+000 (Total Length – 33+500 Km) on BOT (Hybrid Annuity) basis. The Bid project cost is Rs. 531.00 Crores out of which Project finance will contribute Rs. 238.95 Crores and remaining will be funded by grant from NHAI and equity contribution by the Company.
- Nagpur City, Package- II from km 34+000 to km 62+035. (Total Length – 28+035 km) on BOT (Hybrid Annuity) basis. The Bid project cost is Rs. 639.00 Crores out of which Project finance will contribute Rs. 287.55 Crores and remaining will be funded by grant from NHAI and equity contribution by the Company.
- Construction period: 30 months from the appointed date
- Concession period: 15 years (excluding construction period of 30 months)
The Company will receive bi-annual annuity from NHAI post Commercial Operation Date (COD).
The entire North–South and East–West bound road traffic of India passes through the city of Nagpur. The proposed Outer Ring Road will be of paramount importance to decongest traffic in the city and to save precious time and fuel of vehicle users and provide better connectivity to the proposed Nagpur-Mumbai Maharashtra Samruddhi Corridor.
The first Package includes widening and construction of cement concrete pavement for 33.50 Kms. This package consists of one new railway overbridge and two new major bridges on river Vena and three flyovers. The alignment starts at Jamtha and ends at Fetri.
The second package is a Greenfield alignment comprising of a four lane concrete road having four new rail-over bridges, three flyovers and other structures. The new alignment starts at Fetri Village and ends at Village Kapsi.
The packages also include modification of the existing flyovers and construction of ultramodern underpasses at strategic locations.
All bridges, junctions and various wayside amenities including truck lay bye, bus lay bye, medical aid post, traffic aid post and rest areas are aesthetically designed to better user convenience.
MEP IDL in a joint venture with Sanjose India Infrastructure & Construction Pvt. Ltd had received the Letters of Award (LOAs) for over 1,100 crores in March 2016 from National Highways Authority of India (NHAI) for the Four Lane Stand Alone Ring Road/ Bypasses for Nagpur City Package I and II.
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 106 projects, with an aggregate of 200 toll plazas and 1230 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