Olectra bags order worth Rs 185 cr from Thane Municipal Transport Undertaking

Olectra Greentech Limited and Evey Trans Private limited (EVEY) consortium has received a Letter of Award from Thane Municipal Transport Undertaking for supply of 123 electric buses, Olectra said on Monday. These buses will be supplied on a Gross Cost Contract (GCC) / OPEX model basis for a period of 15 years. The order value is Rs 185 crore, Olectra said in a statement.

EVEY Trans will procure the Electric Buses from Olectra Greentech and shall be delivered in 9 months. Out of these 123 E-buses, 55 are (45 Air Conditioned and 10 Non-AC) 12-metre buses. The other 68 E-buses are (26 Air Conditioned, 42 Non-AC) -9-metres. The 12-metre buses will have 200 kilometres range and will have a seating capacity of 39 plus a driver. The 9 metres buses will have 160 kilometres and have a seating capacity of 31 plus a driver. These lithium-ion battery buses can be fully charged in four hours.

The Olectra Greentech will maintain during the contract period. These transactions between the Company and Evey Trans are to be considered as related party transactions and shall be on an arm's length basis, the company said. (ANI)

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