Ozoneland MEP Solapur Ring Road Pvt Ltd signs concession agreement with PWD, Maharashtra Government

A Special Purpose Vehicle ("SPV") viz. Ozoneland MEP Solapur Ring Road Private Limited was formed by Ozoneland Private Limited (with 74% holding) and MEP Infrastructure Developers Limited (with 24% holding) to execute the project of "HAM PN - 153 Improvements to Solapur Ring Road SH 205 km 0/00 to 28/800, 29/800 to 44/600, 48/400 to 54/150 and km 62/00 to 66/550, in the state of Maharashtra under Hybrid Annuity Mode" which was awarded to MEP Infrastructure Developers Limited ('MEP') in association with M/s. Ozoneland Private Limited vide a Letter of Award ('LOA') dated October 25, 2021 from Public Works Department(PWD), Government of Maharashtra.

The SPV Ozoneland MEP Solapur Ring Road Private Limited has signed the Concession Agreement with the Public Works Department (PWD), Government of Maharashtra on December 15, 2021 for the said Project.

Key highlights of the Project:

i) Construction Period: 730 Days from the Appointed Date.
ii) Concession Period: 10 years (excluding Construction Period of 730 Days).
iii) The Bid Project Cost is Rs. 183.42 Crores (Rupees One Hundred Eighty Three Crores and Forty Two Lacs only) and first year O&M Cost is 3.33 Crores (Rupees Three Crores and Thirty Three Lacs only).
iv) The Company will receive Semi-Annual Annuity from PWD, Government of Maharashtra post Commercial Operation Date (COD).

Shares of MEP Infrastructure Developers Limited was last trading in BSE at Rs. 19.55 as compared to the previous close of Rs. 19.55. The total number of shares traded during the day was 17813 in over 91 trades.

The stock hit an intraday high of Rs. 19.90 and intraday low of 19.15. The net turnover during the day was Rs. 349579.00.

Source : Equity Bulls

Keywords

MEPInfrastructureDevelopers INE776I01010 SPV ConcessionAgreement PWD Maharashtra