MEP Infrastructure Developers Limited ('MEP') has received Letter of Acceptance ('LOA') dated August 22, 2019 from Public Works Department, Government of Maharashtra for the following Project: 'Appointment of Contractor for Collection of toll at approved rates on all specified vehicles at Thane-Bhiwandi-Wadpa Road (S.S.H.) SH 84 BOT Project from km. 0/000 to km. 8/090 in Thane District in the State of Maharashtra'.
Key highlights of the Project are as under:
1. Terms of the Contract Agreement:
a. The operations will commence after complying the statutory formalities viz. submission of performance security, signing of contract as per the LOA.
b. Period of the Contract is 3 years.
2. The Total contractual amount for the said Project is Rs. 36,63,00,000/- (Rupees Thirty Six Crores Sixty Three Lakhs Only) payable on quarterly upfront basis.
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