MEP Infrastructure gains 4% on talks for road project tie ups with overseas firms
Over the past year, the road toll management company has bagged 6 HAM projects totalling to Rs 3,836.99 crore covering 1,059.97 lane kilometres.
MEP Infrastructure Developers shares gained nearly 4 percent intraday Tuesday after a media report indicated that the company is in talks with overseas companies for road projects tie ups.
"Road toll management company is in talks with South Korean, Chinese and Japanese infrastructure companies to form joint ventures to bid for road projects under the hybrid annuity model (HAM) in India," Mint said quoting managing director Jayant Mhaiskar.
The company is also in talks with two large overseas funds to form a joint venture to bid for projects under the new toll-operate-transfer (TOT) model, it added.
Under hybrid annuity model, 60 percent of the total project cost to be contributed by developer and balance 40 percent to be invested by the Government during construction period.
Over the past year, the road toll management company has bagged 6 HAM projects totalling to Rs 3,836.99 crore covering 1,059.97 lane kilometres.
At 11:55 hours IST, the stock price was quoting at Rs 91.00, up Rs 2.65, or 3 percent on the BSE.
