MEP Infra gets toll collection rights at Gaurau Toll Plaza
Source: IRIS | 07 Jul, 2015, 01.19PM
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MEP Infrastructure Developers (MEP), a leading player in tolling operations in the road infrastructure sector, said Tuesday the company has received the Letter of Acceptance (LOA) from National Highways Authority of India (NHAI) on Jul. 6, 2015.
The company has been awarded the rights for collection of user fee through Fee Collecting Agency on the basis of Competitive Bidding though e-tender for Gaurau (Semra, Atikabad) Toll Plaza at Km 285.00 for the section Km 250.500 to km 321.100 (Makhanpur - Etawah & Etawah Bypass Section) on NH No.2, in the State of Uttar Pradesh, by the NHAI.
The operations will be commenced within 12 days from the date of this LOA, the company said. The contract is for a period of 1 year. The contractual amount for the said project is Rs 594 million and payable to NHAI on a weekly basis over a period of 1 year, it said.
Shares of the company gained Rs 3.15, or 5.17%, to trade at Rs 64.05 at the BSE (1.15 p.m., Tuesday).
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