MEP Infrastructure Developers Ltd has announced MEP Sanjose Nagpur Ring Road 2 Private Limited Subsidiary Company of the Company, has achieved the financial closure within the stipulated time in accordance with the Concession Agreement executed with NHAI dated May 19, 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) basis, by tying up of Project finance of Rs. 287.55 Crores.
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.
The Construction Period is 30 months from the appointed date.