Continuing on its path to empower the developing world with green energy technologies, SRAM & MRAM Group in association with ELPRO Automobiles Pvt Ltd, India, has initiated talks with the Kingdom of Cambodia to strengthen the public transport systems by introducing 2000 new EV buses free of cost.
SRAM & MRAM will provide the financial assistance for the entire project from scratch and initially will be launching 50 fully ready 33 seater buses within a period of 2 years from the date of the proposed agreement with the Government of Cambodia.
ELPRO through its affiliates CSEPEL Holding Nyrt, Hungary, will bring in the necessary investments amounting to USD 1 billion to set up multiple assembling units across ASIA including India, Myanmar and Cambodia in the next 5 years.
Speaking at the event, Othsman Hassan, Secretary of State, Ministry of Labour and Vocational Training, Kingdom of Cambodia, said he is keen on transforming the transport landscape in Cambodia and is looking forward to the private participation to take Cambodia forward. He also added that such initiatives will also help the Cambodian economy to move up.
Othsman Hassan, a seasoned politician with excellent grass root support in Cambodia, has been responsible for many such path breaking initiatives in the past and has been instrumental in bringing foreign investments into Cambodia and focuses on BOOT model as it would enable businesses to grow at a rapid rate with Public and Private Partnerships (PPP) enabling a healthy business environment thus improving the economy as a whole.
Rofy Othsman, a young, bold, charismatic and enterprising politician who is also a Member of the Cambodian Parliament, said that the new initiative will pave way for multiple investment opportunities into Cambodia and will help the local population with employment opportunities and better economic progress.
As part of the project, SRAM & MRAM and ELPRO will be setting up an assembly line within Cambodia to manufacture the necessary buses for its own consumption and the balance could be exported through the global business initiatives of both SRAM & MRAM and ELPRO. The initiative will enable jobs for at least 10,000 skilled and unskilled jobs for the people of Cambodia and also help generate necessary carbon credits which the government can trade in the Renewable Energy Commission (REC).
Dr Sailesh Lachu Hiranandani, Chairman, SRAM & MRAM Group and ELPRO Group reiterated the need for large corporates to participate in the economic betterment of sleeping giants like Cambodia to ensure that the growth process is triggered in the correct direction keeping futuristic ideologies and technologies in mind.
SRAM & MRAM has been associated with the Kingdom of Cambodia since the early 90's and has established itself as a one of promising business houses operating out of Cambodia with a wide range of business interests across industries. Cambodia has been the epicentre of SRAM & MRAM.
Dr Sailesh Lachu Hiranandani, along with Harpreet Bakhshi, Managing Director SRAM & MRAM Group, a veteran in the field of automotive ancillaries, will be providing all the comprehensive resources including financial, human and technical for the next 10 years to ensure the success of the project.
Earlier, Sunil Kumar Arora, Executive Director, ELPRO & SRAM & MRAM Group, handling the road transportation sector, had a detailed meeting with Osthman Hassan about the Joint Venture. Accordingly, the Government of Cambodia would provide only the Land and all other infrastructure will be developed by the consortium from Hungary to the tune of 1 Billion USD.
With many corporate keen to foray into the EV transport market, especially in developing countries like Cambodia, it will help build the infrastructure and also fuel the economic independence of Cambodia.
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