We wish to inform you that MEP Longjian VTR Private Limited - Subsidiary Company of the Company, had entered into a Concession Agreement with the National Highways Authority of India (NHAI) dated July 4, 2018 for the project of Construction of Eight Laning of existing Four 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. Key highlights of the Project are as under: 1.Construction Period: 2.5 years from the Appointed Date 2.Concession Period:15 years (excluding Construction Period of 2.5 years) 3.The Company will receive Bi-Annual Annuity from NHAI post Commercial Operation Date. MEP Longjian VTR Private Limited had achieved the Financial Closure in terms of the Concession Agreement executed with NHAI by tying up of Project Finance of Rs. 567.78 Crs. on January 1, 2019. The Authority now has given January 21, 2019 as the Appointed Date for the project vide letter dated January 23, 2019.
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