Moneycontrol
Last Updated : Aug 23, 2016 10:07 AM IST | Source: Moneycontrol.com

MEP Infra up 6% on rights for user fee collection from NHAI

The company has received the letter of acceptance (LoA) from National Highways Authority of India (NHAI) to collect the user fee through fee collection agency for Ghangari in the state of Jharkhand.

 
 
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Moneycontrol Bureau

Shares of MEP Infrastructure Developers rose 6.4 percent intraday Tuesday as it has received user fee collection rights at Ghangari toll plaza.

The company has received the letter of acceptance (LoA) from National Highways Authority of India (NHAI) to collect the user fee through fee collection agency for Ghangari in the state of Jharkhand.

The contractual amount for the said project is Rs 79,20,00,000 payable to NHAI on a weekly basis over a period of 1 year.

The operations will commence within 2 days after complying the statutory formalities.

The company's board meeting will be held on August 24, to consider fund raising options.

At 09:52 hrs MEP Infrastructure Developers was quoting at Rs 44.15, up Rs 1.80, or 4.25 percent on the BSE.

Posted by Rakesh Patil
First Published on Aug 23, 2016 10:05 am
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