MEP Infrastructure Developers has announced that it has received the letter of appointed date from the National Highways Authority of India (NHAI) for the 8 laning of existing 4-lane Vadape to Thane from km 539.202 to km 563.000 section of NH-3 (new NH-848) in the State of Maharashtra to be executed on Hybrid Annuity Mode. Total Length 23.798 kms.
MEP had achieved financial closure for this project in terms of the concession agreement executed with NHAI, by tying up project finance of Rs. 567.78 crore. YES bank is the lead banker to this project.
The foundation stone was laid at the hands of Devendra Fadnavis, Chief Minister, Government of Maharashtra, and was presided by Nitin Gadkari, Union Minister of Road Transport, Highways and Shipping, Government of India. The ceremony witnessed a large gathering of people including senior government officials, ministers, bankers, delegates and the media.
Commenting on this achievement, Jayant Mhaiskar, Chairman and Managing Director,MEP Infrastructure Developers said, “We are proud of this achievement which reaffirms the positivity of the Hybrid Annuity model that has been propagated by the ministry. The financial viability of such projects will ensure the speedy growth and expansion of our road infrastructure and set the country on track to become one of the most developed nations in the world. MEP is currently one of the bigger players in the Hybrid Annuity space with 10 successful bids for projects across Maharashtra and Gujarat aggregating Rs 7,942 crore covering 1,893 lane kms.We will continue to pursue our dream of developing the infrastructure of our great nation to make it truly world class.”
Project details:
The old national highway No. 3, popularly known as Mumbai Agra Road is a busy corridor with exceptionally high traffic connects Mumbai, Thane, Nashik, Dhule, Indore, Gwalior, Dholpur and Agra. The project corridor Vadape-Thane Section of NH 3 starts from 539+202 km at Vadape and ends at 563+000 km at Thane near Majiwade Junction. It is a well-designed 4 lane divided corridor carrying heavy traffic. The total length of the stretch is 23.227 km. The Project consists of widening and construction of existing 4 lane road to 8 lane road with cement concrete pavement for 23.798 Kms.
The Project envisages one new railway over bridge and two new major bridges on Thane Creek. The package also includes 2 minor bridges, 84 nos. of culverts, 1 grade separator, 8 Vehicular underpasses at the strategic locations to serve better connectivity and 1 foot-over bridge.
All bridges, junctions and various wayside amenities including truck lay byes, bus lay bye, medical aid post, traffic aid post and rest areas will be aesthetically designed to make the journey convenient, time and fuel saving and hassle-free.
The total project cost of Vadape to Thane package is Rs. 1182.87 crore with the construction period of 30 months from the appointed date.
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 Authority and the concessionaire share the total project cost in the ratio of 40: 60 respectively.
Project highlights:
Length of Project Highway – 23.798 Km (Ch. 539.202 Km to Ch. 563.000 Km)
Bid Project cost – Rs 1,182.87 crore
Construction Period – 2.5 years from the Appointed date
Concession Period - 15 years
1st year O&M cost – Rs 4.5 crore
@EPC World Media
