MEPIDL gets LoA for Toll Collection project in UP for Rs 60 crore

MEP Infrastructure Developers has been appointed by the National Highways Authority of India (NHAI) for the second consecutive term as contractor for toll collection project in Uttar Pradesh, Hapur-Garhmuketeshwar Section of National Highways No. 24, Brijghat Fee Plaza at 88.500 for the section from 58.000 km to 93.000 km for Rs 60.03 crore.    Key highlights of the project:   (i) Period of the contract is one year. (ii) The contractual amount for the said project is Rs 600,300,000/- (Rupees Sixty Crore Three Lakh) payable to NHAI on a weekly basis over a period of one year. The company will continue to operate the said existing project under new contract and the commercial operation date (COD) under the new contract will be achieved in the current quarter ie Q4 of 2016-2017. This is the second toll collection project awarded to the company in a week. The company on December 26, 2016, announced the receipt of the LoA for long term toll collection project in Maharashtra, Bhiwandi-Kalyan-Shilphata Highway at Katai Toll Plaza (Ch 4/500) and Gove Toll Plaza (Ch 18/370) for Rs 61.65 crore. With the two new projects awarded, MEP continues to strengthen its foothold as a major toll player with nine short term and three long term toll collection projects across seven states in India.