Mumbai: MEP Infrastructure Developers has bagged a Rs 826-crore order for four-laning of Kante–Waked section on National Highway 66 in Maharashtra. “MEP along with its joint venture partner Sanjose India Infrastructure and Construction has been declared as a successful bidder by the Road Transport and Highways Ministry for a project under the hybrid annuity model for four-laning of Kante–Waked section of NH-66 in Maharashtra worth Rs 826.28 crore,” a company statement said.
The project is under new hybrid annuity mode, which is a mix of engineering, procurement and construction (EPC) and build operate transfer (BOT) system. Under the model, the authority and the private companies share the total project cost in the ratio of 40:60, respectively.
“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,” Vice-Chairman and Managing Director Jayant Mhaiskar said.
He said the model of BOT hybrid annuity will definitely aid in reviving the highway sector in the country. “Our order book for the hybrid annuity project now stands at Rs 2,589.26 crore and we expect to achieve the financial closure by August-end,” Mhaiskar added.
MEP has formed a joint venture with Sanjose India Infrastructure and Construction with each holding 74 per cent and 26 per cent, respectively.