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Olectra Greentech receives LoA for supply of 50 electric buses

Capital Market 

From State Transport Authorities under FAME-II scheme of GoI

Olectra Greentech announced that out of the tenders Olectra Greentech (Olectra/ Company) and Evey Trans (EVEY) were declared as least quoted (L-1) bidders for 353 Buses, for 50 Electric Buses Olectra has received Letter of Award from one of the State Transport Authorities under FAME-II 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).

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 over 1300 electric buses.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, April 03 2021. 19:08 IST