MEP Infrastructure Developers Limited bags NHAI Project in the State of Tamil Nadu
MUMBAI, March 4, 2016: MEP Infrastructure Developers Limited (BSE – 539126; NSE –MEP), has bagged a project, named Athur for short term toll collection in the state of Tamil Nadu for a period of 1 year.
The company has received the Letter of Acceptance for the Toll Collection project at Athur Toll Plaza at km103.500 on Tambaram to Tindivanam section from km 74.500 to km121.000 of NH-45 in the State of Tamil Nadu. The company has committed to an annual remittance of INR72.36 Cr (Rupees Seventy two Crores Thirty six 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 operating Athur Toll Plaza from last 2 years and now we are very much happy to retain this project 3rd time in a row from NHAI in our order book” Prior to this new project, we have added 9 Short term toll collection projects awarded by NHAI & RIDCOR with Authority remittance of Rs.460.94 Crores.
About MEP Infrastructure Developers Limited:
MEP Infrastructure Developers Limited, an established and leading player in tolling operations in the road infrastructure sector having a pan-India presence with focus on pure toll collection projects as well as OMT projects, which involve maintenance obligations in addition to toll collection on operational roads (including highways) constructed by third parties.
MEP commenced its business with collection of toll at the five Mumbai Entry Points in December 2002, as on February 29, 2016, MEP has completed 88 projects, with an aggregate of 171 toll plazas and 990 lanes, and has an overall experience of over 13 years in this business across 12 states in India.
