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MEP Infrastructure achieves financial closure for three HAM projects
2019-03-12
MEP Infrastructure Developers has announced the successful financial closure of three of its hybrid annuity projects in Maharashtra, namely, four-laning of Ausa-Chakur, Chakur-Loha, and Loha-Waranga Section of NH-361, in accordance with the concession agreement executed with the National Highways Authority of India (NHAI). The lead banker for these projects is YES Bank.
With the announcement, the company has now achieved a financial closure for all of its HAM projects and is currently one of the biggest players in this space with a basket of 10 projects in the states of Maharashtra and Gujarat, aggregating Rs 79.42 billion, covering 1,893 lane km.
The funding for these projects will be done as under:
Name of the SPV | MEP Longjian ACR (Ausa-Chakur) | MEP Longjian CLR (Chakur-Loha) | MEP Longjian Loha Waranga Road (Loha-Waranga) | |
(i) | Project Finance | Rs 4.07 billion | Rs 4.80 billion | Rs 5.15 billion |
(ii) | Grant from NHAI | Rs 3.39 billion | Rs 4 billion | Rs 4.29 billion |
(iii) | Equity Contribution of Subsidiary Company | Rs 1.01 billion | Rs 1.2 billion | Rs 1.28 billion |
Total | Rs 8.48 billion | Rs 10 billion | Rs 10.73 billion | |
Key highlights of the project are as under:
Name of the projects | Four-laning of Ausa-Chakur
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