Olectra Greentech to supply 150 electric buses

Olectra Greentech announced that out of the tenders where Evey Trans (EVEY) and Olectra Greentech (Company) have been declared as L-1(Least Quoted) bidder for 353 Buses, for 150 Electric Buses EVEY has received Letter of Award from one of the State Transport Authorities under FAME-II scheme of Government of India.

This order for supply of 150 Electric Buses is on Gross Cost Contract (GCC) / OPEX model basis for a period in the range of 10-12 years (Contract Period).

EVEY shall procure these Electric Buses from the Company which shall be delivered over a period of 12 months. The maintenance of these buses shall also be undertaken by the Company during the Contract Period. These transactions between the Company and EVEY are to be considered as related party transactions and shall be at arm's length basis.

With these, total electric buses to be delivered by OGL against above and earlier orders are over 900 electric buses.

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