Sambhaav Media has received a Letter of Intent (LoI) from Gujarat State Road Transport Corporation (GSRTC) for implementation of Integrated Vehicle Tracking and Passenger Information System (IVT & PIS) in the GSRTC buses and bus stations on BOO basis. The project involves implementation of IVT & PIS by the company in 10,000 buses.
As per the tender terms the GSRTC shall pay charges of Rs 999 per bus per month for the first 2,400 buses; Rs 875 per bus per month for additional 2,600 buses and 670 per bus per month for remaining 5,000 buses. The company shall be allotted 2,400 buses in the first phase; 2,600 buses in the second phase and remaining 5,000 buses in the last phase in terms of the tender. The entire project is for a period of 5 years on BOO basis.
The company has entered in a consortium with Infinium Solutionz for the implementation of the project. The company and the consortium partner shall share the capex, operating expenses and revenue charges from GSRTC in the proportion of 67:33 respectively.
