May 03, 18.20 PM IST || Pocket News Alert
MUMBAI, May 03, 2016: MEP Infrastructure Developers Limited (BSE - 539126; NSE –MEP), has re-won short term toll collection projects, Paduna in the state of Rajasthan for a period of 1 year.
The company has received the Letter of Acceptance for Toll Collection at Paduna Toll Plaza at km 311.100 for the section Km. 278.000 to Km. 348.000 (Udaipur – Kherwada) of NH-8 in the State of Rajasthan. The company has committed to an annual remittance of INR 128.07 Crores (Rupees One Hundred and Twenty-eight Crores Seven Lacs Only.) to NHAI for the above mentioned project over the project tenure, payable on a weekly basis.
Speaking on the occasion, Mr. Jayant D. Mhaiskar, Vice Chairman & Managing Director, MEP Infrastructure Developers Ltd. said that “MEP has been successful in retaining Paduna Toll Plaza for the 3rd time in a row from NHAI and this is the maiden one year toll award in this fiscal. MEP has recently also bagged 4 projects under BOT Hybrid Annuity Model from NHAI and MORTH with an order book of Rs.2,589.26 Crores for Hybrid Annuity. We are happy to have a promising start of this financial year 2016-17” Mr. Mhaiskar added.
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