Mega Nirman Signs Master EV Charging Agreement with Safexpress

Mega Nirman and Industries Ltd has executed a Master EV Charging Services Agreement with Safexpress Private Limited. Under this agreement, Mega Nirman will install, own, operate, and maintain electric vehicle charging stations under its "MEGACHARGE" brand at sites mutually agreed upon. The arrangement supports Safexpress's logistics operations' electric vehicle charging needs. Each site will have a 10-year term, extendable by 3 years. While the Master Agreement is a framework and doesn't commit to a minimum number of sites or aggregate value, revenue will depend on commissioned sites and energy dispensed. Safexpress guarantees minimum monthly consumption and pays Mega Nirman's margin on any shortfall. This agreement builds upon a previous EV Charging Service Agreement for a site in Agra.