MEP Infrastructure Developers Ltd receives LOA from RIDCOR

MEP Infrastructure Developers Ltd has received a Letter of Acceptance (LOA) dated 19th June, 2023 from Road Infrastructure Development Company of Rajasthan Limited (RIDCOR) ("The Authority") informing that the Company has been awarded contract for Providing Manpower to Collect User Fee at toll plaza(s) (2 Nos.) alongwith Incident Management on Alwar-Sikandra (AS) project roads (Lot-3) developed by RIDCOR in Rajasthan.

Key highlights of the Project are as under:

(i) Providing Manpower to Collect User Fee at toll plaza(s) (2 Nos.) alongwith Incident Management on Alwar-Sikandra (AS) project roads (Lot-3) developed by RIDCOR in Rajasthan.

(ii) Terms of the Contract Agreement: Period of Contract is 12 (Twelve) Months viz. from 01/07/2023 (00:00 Hrs) to 30/06/2024 (24:00 Hrs).

(iii) The Contractual Value for the said Project is Rs.2,31,77,200/- (Rupees Two Crores Thirty One Lakhs Seventy Seven Thousand Two Hundred only).

(iv) The payment shall be made by the Authority on monthly basis in accordance to provision of the Contract Agreement.

The Company is required to furnish the Performance Security within 10 days from the issuance of the LOA and the Contract Agreement is required to be signed on or before 30th June, 2023.

Shares of MEP Infrastructure Developers Limited was last trading in BSE at Rs. 13.67 as compared to the previous close of Rs. 13.74. The total number of shares traded during the day was 75211 in over 180 trades.

The stock hit an intraday high of Rs. 14.27 and intraday low of 13.40. The net turnover during the day was Rs. 1030375.00.

Source : Equity Bulls

Keywords

MEPInfrastructureDevelopers INE776I01010 RIDCOR UserFeeCollection TollPlaza