MEPL signs pacts with NHAI, SDMC for toll collection

MUMBAI: Toll road firm MEP Infrastructure Developers today said it has signed two concession agreements with National Highways Authority of India ( NHAI) and South Delhi Municipal Corporation ( SDMC) for collecting toll.

The company will be executing both the contracts through SMYR Consortium in which MEPL has 25 per cent stake, according to a statement issued here.

SMYR will collect toll for SDMC at border points from specified commercial vehicles entering Delhi. The contractual amount for the project is Rs 1,653.48 crore payable to SDMC over a period of three years on a weekly basis.

SMYR will also be responsible for development of toll plazas, their upgradation and modifications as well as operation and maintenance for three years, the statement stated.

Under the second agreement, MEP will have to collect user fee for NHAI for Paduna Toll Plaza of NH-8 in Rajasthan for a period of one year.

The amount payable to NHAI for the said project is Rs 100.08 crore, which is to be paid on a weekly basis.

"These new contracts have come shortly after we were listed on both the exchanges. Surely this will help us to further strengthen our financials," MEPL Vice Chairman and Managing Director Jayant Mhaishkar said.