MEP Infrastructure Developers (MEP), a leading player in tolling operations in the road infrastructure sector, has been awarded by the National Highways Authority of India (NHAI) the rights for collection of user fee through fee collection agency through on the basis of competitive bidding through (e-tender) for Surjapur Toll Plaza at Km 451.00 for the section from Km 447.000 to Km 498.970 (Dalkhola to Islampur) of National Highway No.31, in the State of West Bengal.
MEP has received the Letter of Acceptance (LOA) on Nov. 16, 2015 from NHAI. The operations will commence within 12 days from the date of this LoA after complyingthe statutory formalities viz. submission of performance security, signing of contract; period of the contract is one year.
The contractual amount for the said project is around Rs 420.3 million payable to NHAI on a weekly basis over a period of one year.
Shares of the company gained Rs 0.65, or 1.27%, to trade at Rs 51.90. The total volume of shares traded was 89,854 at the BSE (10.02 a.m., Tuesday).