March 15 2016, 15.55 PM IST || Pocket News Alert
MUMBAI, March 15, 2016: MEP Infrastructure Developers Limited (BSE - 539126; NSE –MEP), has bagged a project, named Pundag for short term toll collection in the state of Jharkhand for a period of 1 year.
MEP has received the Letter of Acceptance for the Toll Collection project at Pundag Toll Plaza at km98.930 on Hazaribagh to Ranchi section from km 40.500 to km114.000 of NH-33 in the State of Jharkhand. The concession fee payable to the authority (NHAI) for the above mentioned project is Rs.56.61 Cr (Rupees Fifty Six Crores Sixty One Lacs Only.), payable on a weekly basis.
Speaking on the occasion, Mr. Jayant D. Mhaiskar, Vice Chairman & Managing Director, MEP Infrastructure Developers Ltd. said that we are very much happy to be awarded with this project from NHAI along with adding one more State to MEP’s presence across the country. Prior to this new project, we have added 10 Short term toll collection projects awarded by NHAI & RIDCOR during this financial year with a sum of Rs.517.6 payable as concession fees to the authority.
About MEP Infrastructure Developers Limited:
MEP Infrastructure Developers Limited, an established and leading player in tolling operations in the road infrastructure sector having a pan-India presence with focus on pure toll collection projects as well as OMT projects, which involve maintenance obligations in addition to toll collection on operational roads (including highways) constructed by third parties.
MEP commenced its business with collection of toll at the five Mumbai Entry Points in December 2002, as on February 29, 2016, MEP has completed 89 projects, with an aggregate of 172 toll plazas and 1000 lanes, and has an overall experience of over 13 years in this business across 12 states in India.
