Saturday, Apr 20 2024 | Time 15:59 Hrs(IST)
image
Business EconomyPosted at: May 23 2022 9:17PM


Olectra Greentech bags Rs 3675 cr contract to supply 2100 electric buses to BEST

Mumbai, May 23 (UNI) Electric buses manufacturer Olectra Greentech on Monday said it has bagged a Rs 3675 crore contract from the Brihamumbai Electric Supply and Transport Undertaking (BEST) for nearly 2100 buses.
The company’s subsidiary Evey Trans received the Letter of Award (LoA) to supply 2100 electric buses from BEST, one of the largest orders in the Indian electric mobility space so far, it said in a statement issued here.
This order, worth Rs 3675 crore, is to supply the 12 metre long 2100 electric AC buses on the gross cost contract or opex model for a period of 12 years, the company said.
Under the contract, EVEY will procure these buses either directly by itself or through its special purpose vehicle from Olectra Greentech and will be delivered over a period of 12 months.
At present, the company is operating 40 electric buses for BEST in Mumbai.
"Running the largest electric bus fleet in India's financial capital is a matter of pride. We will deliver the buses as per the schedule and will give the best commuting experience to the citizens of Mumbai," KV Pradeep, Chairman and Managing Director, Olectra Greentech said.
As per the terms, Olectra will also maintain these buses during the contract period.

Currently, EVEY and Olectra Greentech are operating electric buses in various state transport undertakings in the country, such as Pune, Hyderabad, Goa, Deharadun, Surat, and Ahmedabad, Silvasa, and Nagpur.
UNI PSK GK
Please log in to get detailed story.
Tags: #Olectra Greentech bags Rs 3675 cr contract to supply 2100 electric buses to BEST
More News

IREDA nets all-time high at Rs 1,252 23 cr in FY24

19 Apr 2024 | 8:38 PM

New Delhi, April 19 (UNI) Indian Renewable Energy Development Agency Ltd. (IREDA), the nation's largest pure-play green financing NBFC, Friday announced an all-time high net profit of Rs. 1,252.23 crore in 2023-24, a 44.83 per cent jump over the previous fiscal year 2022-23.

see more..

"CSIR-IICT and BHEL partners to advance clean fuel technology: MoU signed on CO2 to DME"

19 Apr 2024 | 7:23 PM

Hyderabad, April 19 (UNI) The Council of Scientific and Industrial Research-Indian Institute of Chemical Technology (CSIR-IICT) and Bharat Heavy Electricals Limited (BHEL) Corporate R&D have forged a partnership to develop technology for capturing and converting carbon dioxide (CO2) to Dimethyl Ether (DME) through direct catalytic conversion.

see more..

Amara Raja Infra Wins Greenko’s 700MWp solar project in AP

19 Apr 2024 | 6:41 PM

Hyderabad, Apr 19 (UNI) Amara Raja Infra Private Limited (ARIPL), part of the $1.75 billion Amara Raja Group, on Friday announced it has secured a solar BoS (Balance of System) project of 500MW/700MWp from Greenko.

see more..
Sensex recovers 600 points on heavy buying on last day of week

Sensex recovers 600 points on heavy buying on last day of week

19 Apr 2024 | 5:34 PM

Mumbai, April 19 (UNI) Snapping a losing streak of last four sessions, the BSE Sensex on Friday bounced back 599.34 points to close at 73088.33 on expectation of minimal escalation of tension between Israel and Iran.

see more..

19 Apr 2024 | 5:24 PM

Mumbai, Apr 19 (UNI) IT major Wipro on Friday reported 7.80% year-on-year dip in consolidated net profit at Rs 2,834.6 crore for January-March quarter (Q4) of the financial year 2023-24.

see more..
image