MEP Infra's subsidiary inks contract agreement with NHAI for toll collection in Tamil Nadu

Bhalaji Toll Road Private Limited (BTRPL) ("Concessionaire"), Step-down Subsidiary of MEP Infrastructure Developers Ltd has entered into Contract Agreement with National Highways Authority of India ("NHAI") on 21st February, 2022 for the project of collection of user fee for Nemili Sriperumbudur Toll Plaza located at Km 37.800 for Section from Km 106.800 to Km 13.800 on Walajahpet- Poonamalle Section of NH 4 in the State of Tamil Nadu.

Key highlights of the Project are as under:

• User Fee Collection rights at Nemili Sriperumbudur Fee Plaza.
• Terms of the Contract Agreement:
• Period of Contract is 1 (one) year.
• The tolling operations has commenced from 22nd February, 2022 (8.00 hrs)
• The contractual amount for the said Project is Rs. 87,03,00,000/- (Rupees Eighty Seven Crores Three Lakhs only) payable to NHAI on weekly remittance.

Shares of MEP Infrastructure Developers Limited was last trading in BSE at Rs. 23.15 as compared to the previous close of Rs. 23.75. The total number of shares traded during the day was 40310 in over 244 trades.

The stock hit an intraday high of Rs. 24.40 and intraday low of 22.80. The net turnover during the day was Rs. 950006.00.

Source : Equity Bulls

Keywords

MEPInfrastructureDevelopers INE776I01010 TollPlaza UserFeeCollection NemiliSriperumbudurTollPlaza