MEP Infra jumps 8% after getting contract from NHAI for collection of user fee for Sergarh Fee Plaza

The period of the contract is one year and the contractual amount for the said Project is Rs62.73cr payable to NHAI, company said.

Feb 25, 2021 11:02 IST India Infoline News Service

MEP Infrastructure Developers Limited (MEP) on Wednesday has received the Letter of Award (LOA) from the National Highways Authority of India (NHAI) for the collection of user fee for Sergarh Fee Plaza.

The period of the contract is one year. The operations will commence after 12 days from the date of issuance of LOA. The contractual amount for the said Project is Rs62.73cr payable to NHAI.

The company stock attracted great interest from the investors during Thursday's trade. At around 11.36 am, MEP Infrastructure Developers Ltd was trading at Rs17.40 up Rs1.25 or 7.74% on the BSE.

“The company received the LOA dated February 24, 2021 from NHAI informing that MEP has been engaged as the Contractor for the collection of user fee through e-tender for Sergarh Fee Plaza at Km. 97.960 (Old Km 182.175) for the section from Km 143.635 to Km 80.994 (Bhadrak to Balasore Section) of NH-5 in the state of Odisha,” company said in a regulatory filing on Wednesday.

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