MEP Infra secures ₹567-cr funds for road projects.
MEP Infrastructure has achieved financial closure for a HAM project in Maharashtra involving construction of eight lanes. The road stretch has four lanes currently on the Vadape-Thane section of NH-3. MEP Longjian VTR Pvt Ltd, the SPV created for the project, has received ₹567.78 crore as project finance and the rest of the funds for the project — bid at a cost of ₹1,183 crore — will be contributed by MEP, through a ₹142-crore equity infusion, and also by the NHAI, through a ₹473-crore grant. Currently, the company has 10 operational projects, including six toll collection ventures in as many states, three OMT (operate-maintain-transfer) projects and one BOT (build-operate-transfer) project. It has, so far, won nine HAM projects involving a investment of ₹6,758 crore.
📅Published on:
05 January 2019
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