Olectra Greentech Bags Order For Supply Of 550 Electric Buses To Telangana Govt

Olectra Greentech and Evey Trans Private Limited consortium has bagged an order worth Rs 1,000 crore to supply 550 electric buses to Telangana State Road Transport Corporation (TSRTC).

"Evey has been awarded with two order(s)/contract(s) awarded in Letter of Awards from TSRTC consisting of 500 Buses for Intra-city and 50 Buses for Inter-city operations, respectively," the company said in a statement on Monday (6 March).

These orders for supply of 500 electric buses and 50 electric buses are to be on Gross Cost Contract (GCC)/OPEX model basis for a period of 12 years and 10 years (Contract Period) respectively, it added.

Evey will procure these buses from Olectra Greentech and they will be delivered over a period of 16 months.

"The value of these 550 Buses supply would be approximately Rs 1,000 Crores for Olectra," the company said.

Maintenance of these buses will also be undertaken by the Olectra during the contract period, it added.