Olectra Greentech and Evey Trans to supply e-busses with maintenance contract
Pune Mahanagar Parivahan Mahamandal Ltd has ordered 350 electric buses under the Government’s FAME-II scheme from electric mobility leader and pioneer in electric bus manufacturing group Olectra Greentech Limited (OGL) and Evey Trans Private Limited.
The letter of award has been issued for the supply of 350 electric buses on Gross Cost Contract (GCC) and OPEX model basis for a period of 12 years.
Evey Trans will procure these 350 electric buses from Olectra Greentech, which shall be delivered over seven months with maintenance during the contract period.
With these, total electric buses to be delivered by OGL against above and earlier orders are over 1,250 electric buses. These 350 buses order is a part of recently announced L-1 bidder (disclosed on 5 January 2021).
Evey Trans Private Limited (EVEY) and Olectra Greentech Limited (Company) have been declared as Least Quoted (L-1) bidders for 300 electric buses from the Bangalore Metropolitan Transport Corporation (BMTC) under FAME-II scheme of the Indian Government. The 300 buses are for the supply of the Electric Buses on Gross Cost Contract (GCC) and OPEX model basis for a period of 12 years (Contract Period).
Once Letter of Award is received by EVEY for 300 buses, it shall procure these Electric Buses from Olectra Greentech Limited which shall be delivered over a period of 12 months.
The value of this tender is approximately Rs.570 Crores to the Company. The transactions between the Company and EVEY are to be considered as related party transactions and shall be on arm’s length basis.
“We are happy to announce that, we have bagged 350 electric buses of 12 meters from Pune Mahanagar Parivahan Mahamandal (PMPL). OGL is already operating 150 buses in Pune and with this new order, the fleet size will be 650 Electric buses, which is highest in the country. We also feel honored to operate ecofriendly buses in the garden city and Silicon Valley of India, Bangalore. These are the proud moments for OGL/EVEY Trans teams,” said Sharat Chandra, CFO, Olectra Greentech Limited.
Established in 2000, Olectra Greentech Limited pioneered the introduction of electric buses in India in 2015.
A listed company and a part of MEIL Group, it is also the largest manufacturer in India for Silicone Rubber/Composite Insulators for power transmission and distribution networks. #environment #climate #energy #e-vehicles /fiinews.com
