We wish to inform you that MEP Infrastructure Developers Limited ('MEP') has received the Letter of Acceptance (LOA) dated August 10, 2017 from National Highways Authority of India (NHAI) informing that MEP has been appointed as the Contractor for the Project of "Collection of user fee through User Fee Collecting Agency at Paduna Fee Plaza at Km. 311.100 for the section Km. 278.000 to Km. 348.000 (Udaipur-Kherwada) of NH No. 8 in the State of Rajasthan'.Key highlights of the Project are as under:(i)User Fee Collection rights at Paduna Fee Plaza.(ii) Terms of the Contract Agreement:a. Period of the Contract is 3 (Three) Months.b.The operations will commence on August 17,2017,after complying the statutory formalities viz.submission of performance security, signing of contract as per the LOA.(iii)MEP has to remit on a daily basis Rs. 29,70,000/- (Rupees Twenty Nine Lakhs Seventy Thousand Only) to NHAI for a period of 3(Three) Months towards user fee collection for the said Project.
Source : BSE