MEP Infrastructure Developers (MEP) has received the Letter of Acceptance (LoA) dated May 24, 2018 from the National Highways Authority of India (NHAI) informing that MEP has been engaged as the Contractor for user fee collection at Athur Toll Plaza at km 103.500 on Tambaram to Tindivanam Section from km 74.500 to km 121.000 of NH-45 in the State of Tamil Nadu.

Key highlights of the Project are as under: (i) User Fee Collection rights at Athur Toll Plaza. (ii) Terms of the Contract Agreement: a. The operations will commence within two days after complying the statutory formalities viz. submission of performance security and signing of contract; b. Period of the contract is one year. (iii) The contractual amount for the said project is Rs 850.5 million payable to NHAI on a weekly basis over a period of one year. 

Shares of the company declined Rs 1.60, or 1.98%, to trade at Rs 79.50. The total volume of shares traded was 3,374 at the BSE (9.49 a.m., Friday).