Mahuva - Kagavadar NH-8E

Active

Prospective

The project envisages the four laning of NH - 8E from Km.100.100 to Km.139.915 under NHDP Phase IV. The section's length is 40-km and connects Mahuva to Kagavadar in the state of Gujarat. The concession was awarded in June 2016 following a competitive bidding process with bid criteria being the lowest cost of construction and operation. The Joint Venture of MEP Infrastructure and Sanjose Infra 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 (as per concession agreement) is Rs. 604.68 crore ($93.17 million). According to HAM, the project costs would be split between the sponsor as follows: sponsor's equity of $13.98 million (15%), NHAI grant of $37.27 million (40%) and the remaining $41.93 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. The project reached financial closure on April 3rd, 2017. https://ijglobal.com/data/transaction/37995/mahuva-kagavadar-road-expansion https://ijglobal.com/articles/105751/financial-close-for-mep-infrastructures-mahuva-kagavadar-road http://www.dnaindia.com/money/report-mep-bags-rs-60468-crore-gujarat-road-project-2228771 http://economictimes.indiatimes.com/news/economy/infrastructure/mep-infra-jv-bags-rs-604-68-crore-road-project-in-gujarat/articleshow/52793156.cms http://www.financialexpress.com/market/mep-infrastructures-jv-receives-order-for-four-laning-of-mahuva-to-kagavadar-in-gujarat/298040/ MEP Infra & Sanjose India Infra in a JV own the project contract;

Transport

World Bank Group

Project

Road, Government, Commercial