MEP Infrastructure step-down subsidiary Bhalaji Toll Road bags LoA from NHAI

11 May 2022 , 03:13 PM

MEP Infrastructure Developers Ltd’s step-down subsidiary viz. Bhalaji Toll Road Private Limited (BTRPL) has signed the Contract Agreement on May 10, 2022 with National Highways Authority of India (“NHAI”).

The contract agreement is for the project of collection of user fee for NALAVADI (Km 161.200) FEE PLAZA for section from Hubballi Hospet Section of NH-63 from Design Chainage Km 128.850 to Km 272.571 (Existing Km 129. 549 to Km 267.000) in the state of Karnataka.

As per the filing, the NHAI has issued a Work Order dated May 10, 2022 and as per the said Work Order, the commercial operation has commenced from May 11, 2022 at 08.00:00 hrs and the period of the said Contract is starting from May 11, 2022 (08.00:00 hrs) to August 11, 2022 (07.59:59 hrs) i.e. 3 (three) months or till the new agency is in place whichever is earlier.

At around 3:17 AM, MEP Infrastructure Developers was trading at Rs21.90 apiece down by Rs1.15 or 4.99% on the BSE.