Consortium of Olectra Greentech and Evey Trans (EVEY) have received Letter of Award (LOA) from one of the State Transport Authorities for 50 Electric Buses under FAME-I1 scheme of Government of India.
This order for supply of 50 Electric Buses is on Gross Cost Contract (GCC) / OPEX model basis for a period of 10 years (Contract Period). Value of this Contract is approximately Rs 70 crore to the Company.
These Buses shall be delivered over a period of 12 months. The maintenance of these buses shall also be undertaken by the Olectra during the Contract Period. With these, total order book of Olectra for electric buses against above and earlier orders are around 1350 electric buses.
Olectra Greentech is primarily engaged in the manufacturing of composite polymer insulators and electrical buses.
