Telangana State Road Transport Corporation (TGSRTC) has placed orders for 1,085 electric buses with Megha Engineering & Infrastructures Group firm Evey Trans (EVEY).
The orders are on a gross cost contract (GCC)/OPEX model basis for a contract period of 12 years. EVEY will procure the buses from electric bus manufacturer Olectra Greentech, which is also part of the Megha Group.
₹1,800 cr order
The buses will be delivered over a period of 20 months. The value of these 1,085 buses would be approximately ₹1,800 crore for Olectra, which will also be undertaking maintenance of these vehicles during the contract period.
In a filing to the stock exchanges on Monday, on EVEY receiving two letters of award (LOAs) from TGSRTC, Olectra said the order comprises 1,025 (12-meter non-AC) electric buses and 60 (12-meter AC) electric buses, respectively, for intra-city operations.
