MEP Infrastructure achieves financial closure for three HAM projects

12 Mar 2019 CW Team

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 section	Four-laning of Chakur-Loha section	Four-laning of Loha-Waranga section
Project particulars		Four-laning of Ausa-Chakur section of NH-361 from 55.835 km to 114.345 km (design length 58.51 km), under NH (O) in Maharashtra on hybrid annuity mode.	Four-laning of Chakur-Loha section of NH-361 from 114.600 km 187.800 km (design length 73.345 km), under NH (O) in Maharashtra on hybrid annuity mode.	Four-laning of Loha-Waranga section of NH-361 from 187.800 km to 244.369 km (design length 56.569 km), under NH (O) in the Maharashtra on hybrid annuity mode.
(i)	Construction Period	Two years from the appointed date	Two years from the appointed date	Two years from the appointed date
(ii)	Concession Period	15 years (excluding construction period as stated above)
(iv)	Bi-Annual Annuity	The company will receive bi-annual annuity from NHAI post commercial operation date (COD).

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 billionRs 4.80 billionRs 5.15 billion(ii)Grant from NHAI Rs 3.39 billionRs 4 billionRs 4.29 billion(iii)Equity Contribution of Subsidiary CompanyRs 1.01 billionRs 1.2 billionRs 1.28 billionTotalRs 8.48 billionRs 10 billionRs 10.73 billionKey highlights of the project are as under:Name of the projects Four-laning of Ausa-Chakur sectionFour-laning of Chakur-Loha sectionFour-laning of Loha-Waranga section Project particularsFour-laning of Ausa-Chakur section of NH-361 from 55.835 km to 114.345 km (design length 58.51 km), under NH (O) in Maharashtra on hybrid annuity mode.Four-laning of Chakur-Loha section of NH-361 from 114.600 km 187.800 km (design length 73.345 km), under NH (O) in Maharashtra on hybrid annuity mode.Four-laning of Loha-Waranga section of NH-361 from 187.800 km to 244.369 km (design length 56.569 km), under NH (O) in the Maharashtra on hybrid annuity mode.(i)Construction PeriodTwo years from the appointed dateTwo years from the appointed dateTwo years from the appointed date(ii)Concession Period15 years (excluding construction period as stated above) (iv)Bi-Annual AnnuityThe company will receive bi-annual annuity from NHAI post commercial operation date (COD).

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