MEP Infrastructure Developers Limited

MEP Infrastructure Developers on Friday said its subsidiary MEP Sanjose Talaja Mahuva Road Pvt Ltd has achieved financial closure for a project in Gujarat that involves four-laning of the Talaja-Mahuva section of National Highway 8E. The project under the NHAI has been awarded on hybrid annuity model, which is a mix of engineering, procurement and construction system and build, operate and transfer system. The bid project cost is ₹643 crore, out of which ₹289 crore will be met through project finance and the remaining will be funded by a grant from NHAI and equity contribution of the subsidiary, an exchange filing said. The construction period is 2.5 years and concession period 15 years, excluding the construction period. Shares of MEP Infrastructure were down 1.4 per cent at ₹45.75 on the NSE.