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Ozoneland MEP Solapur Ring Road Pvt Ltd has signed the Concession Agreement with the Public Works Department (PWD), Government of Maharashtra, to execute the project of “improvements to Solapur Ring Road” under Hybrid Annuity Mode (HAM).
The bid project cost is ₹183.42 crore and first year operation & maintenance cost is ₹3.33 crore, MEP Infrastructure Developers said in a stock exchange filing. The concession period is for 10 years (excluding construction period of 730 days).
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MEP said it will receive Semi-Annual Annuity from PWD, Government of Maharashtra post Commercial Operation Date (COD). Ozoneland MEP Solapur Ring Road Pvt Ltd is a Special Purpose Vehicle, with Ozoneland Pvt Ltd holding 74 per cent stake and MEP Infrastructure Developers Ltd holding 24 per cent stake, as per the filing.
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