MEP Infra's subsidiary inks contract of Rs87 crore with NHAI

23 Feb 2022 , 09:16 AM

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 February 21, 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, said company.

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 year while the tolling operations has commenced from February 22, 2022 (8.00 hrs)
• The contractual amount for the said Project is Rs87.03 crore payable to NHAI on weekly remittance.

On Wednesday early morning trading, MEP Infrastructure Developers was trading at Rs22.60 per piece lower by 2.38% on Sensex.