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

MEP Infrastructure up 6%, wins Gujarat highway project

The company in joint venture with Sanjose India Infrastructure & Construction has been declared as the successful bidder by NHAI for development of four laning of Talaja - Mahuva section of NH - 8E in the state of Gujarat on hybrid annuity mode.

 
 
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Moneycontrol Bureau

Shares of MEP Infrastructure Developers surged 6 percent intraday Monday as the company has bagged a contract from National Highways Authority of India (NHAI).

The company in joint venture with Sanjose India Infrastructure & Construction has been declared as the successful bidder by NHAI for development of four laning of Talaja - Mahuva section of NH - 8E in the state of Gujarat on hybrid annuity mode.

The concession period for the said project is 15 years and construction period is of 2.5 years.

The net present value of bid project and O&M is of Rs 624.24 crore.

The company will receive Bi-annual annuity from NHAI post commercial operation date.

The order book of the JV company stands at Rs 3232.31 crore which is to be executed over the next two and half years.

The company's board meeting will be held on May 24, 2016, for the purpose of considering and approving the audited financial results for the quarter and financial year ended March 31, 2016 and to recommend final dividend, if any, for the financial year ended March 31, 2016.

At 09:58 hrs MEP Infrastructure Developers was quoting at Rs 42.45, up Rs 2.35, or 5.86 percent on the BSE.

Posted by Rakesh Patil

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First Published on May 23, 2016 10:10 am
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