MEP Infra bags toll collection contract for Delhi, stock soars
Tanay Loya / 29 Sep 2017
The stock of MEP Infrastructure Developers Ltd was buzzing on the bourses in early morning trade on Friday, surging over 5 per cent on the BSE.
The stock of MEP Infrastructure Developers Ltd was buzzing on the bourses in early morning trade on Friday, surging over 5 per cent on the BSE. The company announced that it has won a contract for the collection of toll at all entry points to Delhi.
The company has been awarded the letter of award by the office of the Director Local Bodies (Toll Tax Department) to engage as the contractor for South Delhi Municipal Corporation (SDMC).
MEP will be collecting toll tax and environment compensation charge (ECC) at border points from specified commercial vehicles entering Delhi for a period of five years, starting from October 1, 2017. The contractual amount for the said project is Rs. 1,206 crore per annum payable to SDMC on a weekly basis.
MEP Infrastructure is a leading infrastructure operator and toll management company focusing on serving central and state road authorities across the country, for managing, operating and maintaining their road assets.
At 10:23 am (IST), the scrip was trading 5.22 per cent higher at Rs. 101.75. It opened at Rs. 100.95 and touched a high and low of Rs. 102.80 and Rs. 99.65, respectively.
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