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MEP Longjian Loha Waranga Road Pvt Ltd receives appointed date from NHAI

Posted On: 2019-03-25 21:53:48

MEP Longjian Loha Waranga Road Private Limited, Subsidiary Company of MEP Infrastructure Developers Ltd,had entered into a Concession Agreement with the National Highways Authority of India dtd July 4,2018 for the project of Four Laning of Loha-Waranga Section of NH-361 from km.187.800 to km.244.369(Design length 56.569km.)under NH(O)in State of Maharashtra on Hybrid Annuity Mode.

Key highlights of the Project are as under:

1. Construction Period: 2 yrs from the Appointed Date.
2. Concession Period: 15 years(excluding Construction Period of 2 yrs).
3. The Company will receive Bi-Annual Annuity from NHAI post Commercial Operation Date (COD).

MEP Longjian Loha Waranga Road Private Limited had achieved the Financial Closure in terms of the Concession Agreement executed with NHAI, by tying up of Project Finance of Rs.515.09 Crores on March 11,2019.The Authority now has given March 25,2019 as the Appointed Date for the project vide letter dated March 25,2019.

Shares of MEP Infrastructure Developers Ltd was last trading in BSE at Rs.42.7 as compared to the previous close of Rs. 41.7. The total number of shares traded during the day was 46859 in over 344 trades.

The stock hit an intraday high of Rs. 43.95 and intraday low of 40.5. The net turnover during the day was Rs. 2008835.


Source: Equity Bulls

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