Shares of MEP Infrastructure Developers zoomed 7 percent in early trade on July 12 after its subsidiary bagged an EPC project.
MEP Infrastructure Developers has informed that its subsidiary company Victory Infra LLC has identified as the preferred contractor for engineering, procurement and construction of Kasumbalesa Dry Port in Democratic Republic of Congo (DRC).
The subsidiary company has entered into agreement with Yellowstone DRC SARL, a private company incorporated in DRC.
The estimated contract price for EPC contract is between $115 Mio and $130 Mio and to be executed in 24 months from the appointed date.
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The subsidiary bagged another contract from Yellowstone DRC SARL to operate, maintain and manage the Kasumbalesa Dry Port with estimated contract fees between $14 Mio and $18 Mio, per annum with an escalation of 5 percent year-on-year.
The said contract will be for 12 years from the commercial operation date after completion of construction with potential for six years of extension at the option of Yellow Stone.
MEP Infrastructure Developers has touched a 52-week low of Rs 9.50 but trading 4.59 percent or Rs 0.46 higher at Rs 10.48on the BSE.
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