MBL Infra completes construction work of original scope of work of BOT project

MBL Infra has completed the construction work of original scope of work of Bikaner-Suratgarh Section of NH-62 in the state of Rajasthan in terms of the concession agreement executed by Suratgarh Bikaner Toll Road Company Pvt Ltd (SBTRCL), a wholly owned subsidiary company. SBTRCL has applied to Authority for addition of 5.289 kms for tolling and for the Completion certificate of the BOT project in terms of the concessionaire agreement.

The Authority had granted provisional completion certificate dated 15.02.2019 for 156.635 kms and for further length of 9.780 kms on 18.03.2021. The toll collection for the additional length of 5.289 kms wil l start after receiving the completion certificate from the Authority for the additional length.

"With the completion of construction work of additional length of 5.289 kms of the BOT project, the toll revenue of Suratgarh Bikaner Toll Road Company Pvt Ltd is expected to increase accordingly. The change in scope of work of Rs 20.22 crore for construction of a new bridge across INGP main canal awarded by Ministry of Road Transport and Highways is to be executed in a period of 12 months." said Mr. Surrender Aggarwal, Executive Director, while addressing company officials.

Shares of MBL Infrastructures Limited was last trading in BSE at Rs. 23.70 as compared to the previous close of Rs. 24.15. The total number of shares traded during the day was 43840 in over 440 trades.

The stock hit an intraday high of Rs. 24.15 and intraday low of 22.80. The net turnover during the day was Rs. 1020605.00.

Source : Equity Bulls

Keywords

MBLInfrastructures INE912H01013 ConcessionAgreement