Olectra Greentech’s arm bags LOAs from TGSRTC
The value of the supply of these 1,085 buses would be approximately Rs 1,800 crore for Olectra
Olectra Greentech’s subsidiary—Evey Trans (EVEY) has received two Letters of Award (LOAs) from Telangana State Road Transport Corporation (TGSRTC) for supply, operation and maintenance of 1,085 Electric Buses, comprising 1,025 (12-Meter Non-AC) Buses and 60 (12-Meter AC) Buses respectively for intra-city operations.
These orders for the supply of 1,085 Electric Buses are on a Gross Cost Contract (GCC) / OPEX model basis for a period of 12 years (Contract Period). EVEY shall procure these buses from Olectra Greentech (Olectra), which shall be delivered over a period of 20 months. The value of the supply of these 1,085 buses would be approximately Rs 1,800 crore for Olectra. Maintenance of these buses will also be undertaken by Olectra during the Contract Period.
Olectra Greentech is primarily engaged in the manufacturing of composite polymer insulators and electrical buses.
