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MEP Infrastructure Developers was incorporated as MEP Toll Road Private Limited on August 8, 2002, at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956. The name of the company was changed from MEP Toll Road Private Limited to MEP Infrastructure Developers Private Limited and a fresh certificate of incorporation consequent upon change of name was issued by the Registrar of Companies, Mumbai, to the company on November 28, 2011. Thereafter, the company was converted into a public limited company pursuant to approval of the shareholders in an extraordinary general meeting held on August 19, 2014 and consequently, the name of the company was changed to MEP Infrastructure Developers Limited and a fresh certificate of incorporation consequent upon conversion to public limited company was granted on September 8, 2014.
The company is an established and leading player in tolling operations in the road infrastructure sector, with a pan-India presence. It focuses on pure toll collection projects as well as OMT projects, which involve maintenance obligations in addition to toll collection on operational roads (including highways) constructed by third parties. According to the report on “Assessment of Operate-Maintain-Transfer (OMT) and Toll Collection market for Road Projects in India” dated June 2014 by CRISIL Research (the “CRISIL Report”), the company is the leading player in OMT as well as toll collection in India based on the number of projects operated and quality of project stretches.
The company’s projects are awarded to it through competitive bidding process (electronic bidding in some cases) and after satisfaction of various prescribed pre-qualification criteria. Tenders for its projects are submitted on the basis of traffic volume and revenue forecasting undertaken by it through in house surveys. The company generates revenue from toll collection and OMT projects through collection of toll from commuters. The company’s toll collection and OMT projects have been awarded to it by statutory corporations or government companies primarily being NHAI, MSRDC, RSRDC, RIDCOR, MJPRCL and HRBC.
The company’s portfolio of ongoing toll collection projects includes both Long Term (of an initial term in excess of one year) and Short Term (of an initial term of one year or lesser) projects.
Business area of the company
The company commenced its business with collection of toll at the five Mumbai Entry Points in December 2002, which it undertook for a period of eight years, from December 2002 till November 2008 pursuant to a contract with MSRDC and subsequent extensions thereof, until November 2010. It has an overall experience of over 12 years in this business across 12 states in India. Some of the significant toll collection projects completed by it include: (i) project for collection of toll at five Mumbai Entry Points where it currently operates an OMT contract pursuant to a re-award; (ii) project for collection of toll at Chalthan toll plaza, Gujarat; (iii) project for collection of toll at the toll plazas located at Ahmedabad, AUDA Ring Road, Nadiad, Anand and Vadodara on the Ahmedabad - Vadodara Expressway, Gujarat; (iv) project for collection of toll for the Rajiv Gandhi Sea Link, Mumbai, Maharashtra; (v) project for collection of toll at Chirle toll plaza and Karanjade toll plaza, Maharashtra; and (vi) project for collection of toll at the toll plazas on Hanumangarh - Kishangarh road, Rajasthan.