For supply of electric buses to state transport corporations
Olectra Greentech announced that Evey Trans (EVEY) has received Letter of Award from one of the State Transport Corporations for 300 Electric Buses under FAME-II scheme of Government of India.This order for supply of 300 Electric Buses is on Gross Cost Contract (GCC) / OPEX model basis for a period of 12 years (Contract Period).
EVEY shall procure these buses from Olectra Greentech (Olectra ) and which shall be delivered over a period of 20 months. Maintenance of these buses shall also be undertaken by the Olectra during the Contract Period.
The value of these 300 Buses supply would be approximately Rs. 500 crore for Olectra.
These transactions between Olectra and EVEY are to be considered as related party transactions and shall be at arm's length basis.
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