Kante - Waked Section of NH-66

Active

Prospective

The project envisages four laning of Kante-Waked section from 281.30 km to 332.20 km on NH-66 under NHDP-IV. The project will be carried out by MEP SANJOSE Kante Waked Road Private Limited ("project company") promoted by the Joint Venture of MEP Infrastructure Developers and Sanjose India Infrastructure & Construction, holding 74 per cent and 26 per cent, respectively. The concession was signed in April 2016 following a competitive bidding process with bid criteria being the lowest cost of construction and operation. MEP Sanjose JV appeared to be the lowest bidder in the auction, thus bagging the right to undertake the project. This is a brownfield project being developed under a BROT modality, with a concession period of 15 years, excluding 2.5 years of construction works. This project falls under the new Hybrid Annuity model, which is a mix of engineering, procurement and construction (EPC) and build operate transfer (BOT) system. The project cost is Rs. 826.28 crore ($121.1 million). According to HAM, the project costs would be split between the sponsor as follows: sponsor's equity of $18.2 million (15%), NHAI grant of $48.5 million (40%) and the remaining $54.5 million (45%) would be debt financing arranged by the sponsor. Thereafter, NHAI would repay the 60 per cent private funding in installments, plus interest thereon over the life span of the concession. Financial closure reached on January 21, 2017. http://www.pocketnewsalert.com/2016/04/MEP-IDL-declared-as-a-Successful-Bidder-L1-with-Bid-Project-Cost-of-Rs82628-Crores-for-Hybrid-Annuity-Project-of-MORTH-in-the-State-of-Maharashtra.html https://ijglobal.com/data/transaction/37493/national-highway-nh-66-kante-waked-section-ppp sponsors: MEP Infrastructures and Sanjose Group

Transport

India

World Bank Group

Project

Commercial, Road, Government