MEP Infrastructure gains over 6% on receiving toll, ECC collection contract
This contract if for a period of five years and the amount for the said project is about Rs 1,206 crore per annum payable to SDMC on a weekly basis.
Share price of MEP Infrastructure Developers jumped over 6% on Friday after the company bagged a contract for toll and ECC collection contract at all entry points to Delhi.
At 1323 hours, the share price of the company was trading at Rs 101.55 per piece higher by Rs 4.85 or 5.02% on BSE.
In a statement to exchanges, MEP said, "The company has been awarded by the Office of the Director Local Bodies (Toll Tax Department) to engage MEP as the contractor for SDMC for collection of total tax and environment compensation charge (ECC) at border points from Specified Commercial Vehicles entering Delhi."
South Delhi Municipal Corporation (SDMC) is acting as the lead corporation since the former Municipal Corporation of Delhi was divided into three.
This contract if for a period of five years and the amount for the said project is about Rs 1,206 crore per annum payable to SDMC on a weekly basis.
Commercial operations of the contract will commence from October 01, 2017.
MEP is one of the leading infrastructure operator and toll management company with its presence 12 States in the country.
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