Olectra bags 185-cr order from TMT

Olectra bags 185-cr order from TMT
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Olectra bags 185-cr order from TMT

Highlights

Olectra Greentech Ltd (Olectra) and Evey Trans Pvt Ltd (EVEY) consortium has received a Letter of Award from Thane Municipal Transport (TMT) for 123 electric buses. These buses will be supplied on a gross cost contract (GCC) model basis for a period of 15 years. The order value is Rs 185 crore.

Hyderabad: Olectra Greentech Ltd (Olectra) and Evey Trans Pvt Ltd (EVEY) consortium has received a Letter of Award from Thane Municipal Transport (TMT) for 123 electric buses. These buses will be supplied on a gross cost contract (GCC) model basis for a period of 15 years. The order value is Rs 185 crore.

EVEY Trans will procure the e-buses from Olectra Greentech and shall be delivered in nine months. Out of these 123 e-buses, 55 are 12-metre long including 45 air-conditioned and 10 non-AC buses, while the other 68 e-buses are 9-metre long including 26 AC and 42 non-AC buses.

The 12-metre e-buses will have 200-km range and will have a seating capacity of 39 plus a driver. The 9-metre e-buses will have 160-km and have a seating capacity of 31 plus a driver. These lithium-ion battery buses can be fully charged in four hours.

The Olectra Greentech will maintain during the contract period. These transactions between the company and Evey Trans are to be considered as related party transactions and shall be on an arm's length basis.

On this occasion, KV Pradeep, CMD of the company said, "With this order, our presence expanded to Thane. We are already operating e-buses in Pune, Mumbai, and Nagpur in the State. In Maharastra alone, our Olectra e-buses have clocked over 3 crore km and significantly reduced carbon emissions."

"Our e-buses are running all the corners of the country. Olectra e-buses clocked over 7 crore km on Indian roads," he informed. Olectra Greentech is a public listed company and also a part of MEIL Group, pioneered the introduction of e-buses in India since 2015.

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