MEP Infrastructure Developers and San Jose achieve FC for Indian road PPP
MEP SANJOSE Arawali Kante Road, a MEP Infrastructure Developers’ subsidiary, has announced it has achieved financial close for the rehabilitation and up-grade of NH-66 in India.
The project, awarded by the Ministry of Road Transport and Highways (MORTH), involves the four-laning of NH-66 (km 241/300 to 281/300 - Arawali-Kante section) under NHDP Phase-IV. The road is in the State of Maharashtra.
The project cost is INR5.93 billion (US$86.92 million) out of which project finance will contribute INR2.7 billion (US$39.11 million) and remaining will be funded by grant from MORTH and equity contribution by the subsidiary company.
MEP Infrastructure Developers is engaged in tolling operations of the road infrastructure sector, with a pan-India presence. MEP Infra is in the business of pure toll collection projects as well as OMT projects, which involve maintenance obligations in addition to toll collection on operational roads (including highways) constructed by third parties.
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