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MEP IDL declared successful bidder for NHAI project in Gujarat
Mumbai, May 23, 2016
MEP Infrastructure Developers Ltd, in a joint venture (JV) with its Spanish partner, has been declared as a successful bidder (L1) by National Highways Authority of India (NHAI) for a project under the hybrid annuity mode in Gujarat.
The project is for the four-laning of the Talaja-Mahuva section of NH 8E from km. 53.585 to km. 100.100 (Package – II) with bid project cost of Rs. 643.05 crore.
“We have been able to maintain our winning run after being declared as successful bidder (L1) for the consecutive 5th project in last 8 weeks’ time for the hybrid annuity project. We are happy to enter in the state of Gujarat for hybrid annuity project and we are confident of completing the projects in a stipulated time frame and with the desired quality to play a significant role in the country’s infrastructure development,” said Mr. Jayant D Mhaiskar, Vice-Chairman and Managing Director, MEP Infrastructure Developers Ltd.
The project is under the new Hybrid Annuity Mode, which is a mix of engineering, procurement and construction (EPC) and build operate transfer (BOT) system. The NHAI and the private companies share the total project cost in the ratio of 40: 60 respectively.
MEP Infrastructure Developers Ltd has formed a joint venture with Sanjose India Infrastructure & Construction Pvt. Ltd with each holding 60% and 40%, respectively.
The construction period is of two years and six months from the appointed date and the concession period is 15 years excluding the construction period.
A press release from the company said MEP JV had also received LOAs from the Ministry of Road Transport and Highways (MORTH) for the following Hybrid Annuity projects:
-- Rehabilitation and up-gradation of NH-66 (erstwhile NH-17) from km. 241/300 to km 281/300 (Total Length – 40/000 km.) on Arawali - Kante section in Maharashtra to four lane with paved shoulder under NHDP IV on Hybrid Annuity Mode from MORTH. The Bid Project Cost is Rs. 592.98 crore and O&M Bid is for Rs. 5.67 crore for the first year.
-- Four Lane Stand Alone Ring Road/ Bypasses for Nagpur City Package I from km 0+500 to km 34+000 (Total Length – 33+500 Km) on BOT (Hybrid Annuity) basis from NHAI. The Bid Project Cost is Rs. 531.00 crore and O&M Bid is for Rs. 6.30 crore for the first year.
-- Four Lane Stand Alone Ring Road/Bypasses for Nagpur City, Package-II from km 34+500 to km 62+035. (Total Length - 28+035 km) on BOT (Hybrid Annuity) basis from NHAI. The Bid Project Cost is Rs. 639.00 crore and O&M Bid is Rs. 6.75 crore for the first year.
-- Rehabilitation and upgradation of NH-66 (erstwhile NH-17) from km. 281/300 to km 332/200 (Total Length – 50/900 Km.) on Kante - Waked section in Maharashtra to four lane with paved shoulder under NHDP IV on Hybrid Annuity Mode from MORTH. The Bid Project Cost is Rs. 826.28 crore and O&M Bid is for Rs. 11.60 crore for the first year.
The release said the company had already executed Concession Agreements for Nagpur Ring Road Package I and Package II with NHAI on May 19. The company’s order book for Hybrid Annuity projects now stands at Rs. 3232.31 crore, Mr. Mhaiskar added.