Olectra Greentech baggage order for three hundred electric buses by admin- Friday, July 22nd, 2022 03:56:59 PM
Olectra Greentech introduced that, Evey Trans Pvt Ltd (EVEY) has obtained Letter of Award from one of the State Transport Corporations for three hundred Electric Buses under FAME-I1 scheme of Government of India.
This order for supply of three hundred Electric Buses is on Gross Cost Contract (GCC) / OPEX model foundation for a duration of 12 years (Contract Period).
EVEY shall procure those buses from Olectra Greentech Limited (“Olectra”) and which shall be brought over a length of 20 months. Maintenance of those buses shall also be undertaken through the Olectra in the course of the Contract Period.
The fee of these 300 Buses deliver would be approximately Rs. 500 Crore for Olectra.
These transactions among Olectra and EVEY are to be taken into consideration as related party transactions and shall be at arm’s period basis.