Nagpur City Ring Road Package II

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Nagpur City Ring Road Package II comprises four lane concrete road having four new rail over bridges, three flyovers and other structures. The new alignment with a total length of 28.05 km starts at Fetri Village and ends at Village Kapsi. Nagpur City Ring Road project entails two phases with distinct financial packages - Nagpur City Ring Road Package I is a 33.5 km brownfield project from village Jamtha to village Fetri. MEP Sanjose Nagpur Ring Road 2 Pvt Ltd is the SPV created to develop the project on behalf of the sponsors - MEP Infrastructures Developers and Sanjose Infra, holding 74 per cent and 26 per cent, respectively. This project is under the new Hybrid Annuity model, which is a mix of engineering, procurement and construction (EPC) and build operate transfer (BOT) system. The concession agreement is for a period of 15 years, excluding construction period of 30 months. The concession was awarded after a bidding process, with bidding criteria of lowest cost. The project cost (Package II) is estimated at 639 crore (approximately $95.6 million). 40 per cent of the project cost is funded by NHAI ($38.2 million) with 60 per cent arranged by the developer (45 per cent project financing and 15 per cent equity). Under HAM, NHAI will repay the 60 per cent funding in installments, plus interest thereon. The project reached financial close in mid October by tying up funds amounting to approximately $38.2 million. The project is funded by IDBI Bank and IIFCL. http://www.mepinfra.com/_assets/PressReleases/MEP-IDL-lays-the-foundation-stone-for-Nagpur-City-Press-Release-17.10.pdf http://globalprimenews.com/2017/01/19/mep-idl-receives-appointed-date-for-its-four-lane-outer-ring-road-project-in-nagpur-city-package-ii/ https://ijglobal.com/data/transaction/37492/nagpur-city-ring-road-package-2-ppp