MEP Infra rises 4%, gets LOA from NHAI to collect toll

Moneycontrol BureauShares of MEP Infrastructure Developers gained 4 percent intraday Friday as it has received a letter of acceptance (LOA) from NHAI for toll collection in Uttar Pradesh.The company has been awarded the rights for collection of user fee through fee collecting agency on the basis of competitive bidding for Brijghat toll plaza on NH-24 in the state of Uttar Pradesh by the National Highways Authority of India (NHAI)."The operations will commence within 12 days from the date of this LOA after complying the statutory formalities," as per BSE release."The contractual amount for the said project is Rs 51.84 crore payable to NHAI on a weekly basis over a period of one year," it added.At 09:39 hrs MEP Infrastructure Developers was quoting at Rs 48.40, up Rs 0.80, or 1.68 percent on the BSE.Posted by Rakesh Patil