*MEP IDL receives Letter of Award from NHAI for four laning of Talaja – Mahuva section under Hybrid Annuity with Bid Project Cost of Rs.643.05 Crores in the State of Gujarat
Chennai: MEP Infrastructure Developers Ltd (BSE: MEP) in a joint venture (JV) with its Spanish partner has received Letter of Award (LOA) from National Highways Authority of India (NHAI) for a project under the Hybrid Annuity namely 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 with Bid Project Cost Rs.643.05 Crores.
“We have been able to maintain our winning run after being declared as successful bidder (L1) for the consecutive 5th project in last 8 weeks’ time for the Hybrid Annuity project. We are happy to enter in the State of Gujarat for Hybrid Annuity Project and we are confident of completing the projects in a stipulated time frame and with the desired quality to play a significant role in the country’s infrastructure development,” said Mr. Jayant D Mhaiskar, Vice-Chairman and Managing Director, MEP Infrastructure Developers Ltd.
The project is under new Hybrid Annuity Mode, which is a mix of engineering, procurement and construction (EPC) and build operate transfer (BOT) system. The Authority and the private companies share the total project cost in the ratio of 40: 60 respectively.
This model of BOT Hybrid Annuity will definitely aid in reviving the highway sector in the country. MEP Infrastructure Developers Ltd has formed a joint venture with Sanjose India Infrastructure & Construction Pvt. Ltd with each holding 60% & 40% respectively.
MEP JV has been declared successful bidder (L1) by NHAI for four laning of Talaja – Mahuva Section of NH 8E from Km. 53.585to Km. 100.100 (Design Chainage from Km. 54.990 to Km. 100.450) (Package – II) in the State of Gujarat. The Bid Project Cost is Rs.643.05 Crores and First year O&M Bid is for Rs.9 Crores.
The Construction period is of 2years and 6 months from the appointed date and the Concession period is 15 years excluding the Construction period.