MEP Infra JV bags Rs 604.68 crore road project in Gujarat

MUMBAI: MEP Infrastructure Developers, in a joint venture, has bagged a contract to build and operate a road project in Gujarat for Rs 604.68 crore, the company said in a statement Friday.

MEP Infrastructure Developers holds 60 per cent while Sanjose India Infrastructure & Construction holds the balance 40 per cent in the joint venture.

The project will be developed under the hybrid annuity model. It entails four laning of Mahuva to Kagavadar section of National Highway-8E under NHDP Phase IV.

The bid project cost is Rs 604.68 crore and the first year operating and maintenance bid is for Rs 8.46 crores. The construction period is two years and six months from the appointed date and the concession period is 15 years excluding the construction period.

“The company now has a basket of six hybrid annuity model projects in the states of Maharashtra and Gujarat totaling to Rs 3836.99 crore."

"This project is a continuation of the Talaja–Mahuva stretch awarded to us last month, thus enabling us to optimize our resources and complete these projects in a stipulated time frame,” said Jayant D Mhaiskar, vice-chairman and managing director, MEP Infrastructure Developers.