MEP Infrastructure Developers Ltd receives LOA for User Fee Collection for Agar-Jaora Road

MEP Infrastructure Developers Ltd's Wholly Owned Subsidiary viz. Raima Ventures Pvt. Ltd. (RVPL) has received a Letter of Award (LOA) dated 10th April, 2023 from M. P. Road Development Corporation Ltd. (M. P. State Highway Authority) ("the Authority”) informing that RVPL has been engaged as the User Fee Collection agency for Agar-Jaora Road in the State of Madhya Pradesh.

Key highlights of the Project are as under:

(i) User Fee Collection rights at Agar-Jaora Road in the State of Madhya Pradesh.
(ii) Terms of the Contract Agreement:

a. Period of Contract is 2 (Two) Years.
b. The operations will commence within 1 (One) month after signing of Contract Agreement with the Authority as per the terms of the Bid Document(s).

(iii) The Contractual Value of the said Project is Rs.14,76,00,000/- (Rupees Fourteen Crores Seventy Six Lakhs Only). The Annual Remittance to the Authority is Rs.7,38,00,000 (Rupees Seven Crores Thirty Eight Lakhs Only).

Shares of MEP Infrastructure Developers Limited was last trading in BSE at Rs. 13.67 as compared to the previous close of Rs. 13.52. The total number of shares traded during the day was 69897 in over 199 trades.

The stock hit an intraday high of Rs. 14.19 and intraday low of 13.19. The net turnover during the day was Rs. 976856.00.

Source : Equity Bulls

Keywords

MEPInfrastructureDevelopers INE776I01010 Subsidiary RaimaVentures UserFeeCollectionAgency