MEP bags toll collection contract in UP
Mumbai : Toll road firm MEP Infrastructure Developers today said it has bagged one-year contract for toll collection at Brijghat toll plaza in Uttar Pradesh.
“MEP has received the Letter of Acceptance from National Highways Authority of India (NHAI) for toll collection project at Brijghat toll plaza at the Hapur-Garmuketeswar section on NH-24 in Uttar Pradesh,” the company said in a statement.
The company has committed to an annual remittance of Rs 51.84 crore to the NHAI for the above-mentioned project over the project tenure, payable on a weekly basis.
“MEP had operated Brijghat toll plaza in the past for one year. We have strengthened our operations in Uttar Pradesh by adding fourth project in the list of ongoing projects in the state,” its Vice Chairman and Managing Director Jayant Mhaiskar said.
Prior to this new project, MEP has added nine projects during this fiscal comprising of eight short-term toll collection projects awarded by NHAI and RIDCOR with authority remittance of Rs 409.10 crore, and one long-term toll collection project in Delhi awarded by South Delhi Municipal Corporation (SDMC).
The long-term project in Delhi has been awarded to a consortium of four members, wherein 25 per cent share is held by MEP.
The project entails an authority remittance of Rs 1,653.50 crore over the project duration of 3 years, the statement said.