MEP Infrastructure Developers arm receives LoA of Rs65.07 crore project from NHAI

15 Mar 2022 , 01:10 PM

MEP Infrastructure Developers Ltd’s step-down subsidiary viz. Bhalaji Toll Road Private Limited (BTRPL) has received a Letter of Award (LOA) dated March 14, 2022 from National Highways Authority of India (“NHAI”) informing that BTRPL has been engaged as the user fee collection agency on the basis of competitive bidding 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.

Key highlights of the Project are as under:

User Fee Collection rights at Sergarh Fee Plaza.

Terms of the Contract Agreement:

• Period of Contract is 1 year.
• The operations will commence after 12 days from the date of issuance of LOA.

The contractual amount for the said Project is Rs65.07 crore payable to NHAI on weekly remittance.

At around 1:12 PM, MEP Infra was trading at Rs20.50 apiece down by Rs0.05 or 0.24% on the BSE.