Olectra Greentech’s subsidiary company -- Evey Trans (EVEY) has received Letter of Award (LoA) for 2,100 Electric Buses from one of the State Transport Undertakings. Earlier, the company had been declared as L- 1 (Least Quoted) bidder for the said order. This order for supply of the 2,100 Electric Buses is on Gross Cost Contract (GCC) / OPEX model for a period of 12 years (Contract Period).
EVEY shall procure (either directly by itself or through its Special Purpose Vehicle) these 2,100 Electric Buses from Olectra Greentech and which shall be delivered over a period of 12 months. Maintenance of these buses shall also be undertaken by Olectra during the Contract Period. The value of these 2,100 Buses supply would be approximately Rs 3,675 crore for Olectra.
Olectra Greentech is primarily engaged in the manufacturing of composite polymer insulators and electrical buses.
