MEP Infrastructure Developers declared that MEP Sanjose Nagpur Ring Road 2 – Subsidiary Company of the Company, has accomplished the money related conclusion inside the stipulated time as per the Concession Agreement executed with NHAI dated 19 May 2016 for Four Laning Stand Alone Ring Road/Bypass for the Nagpur City Package II from Km 34+500 to Km 62+035 (Total length 28+035 Km) in the State of Maharashtra on BOT (Hybrid Annuity) premise, by tying up of Project fund of Rs. 287.55 crore.
The Bid extend cost is Rs. 639.00 crore out of which Project fund will contribute Rs. 287.55 crore and remaining will be supported by allow from NHAI and value commitment by the Company.
Key highlights of the Project are as under:
1) Construction Period: 30 Months from the Appointed Date.
2) Concession Period: 15 years (barring Construction Period of 30 Months).
3) The Company will get Bi-Annual Annuity from NHAI post Commercial Operation Date (COD).