Olectra -led consortium the lowest bidder

New Delhi: A consortium of Hyderabad-based electric bus manufacturer Olectra Greentech and its sister concern Evey Trans Pvt Ltd has emerged as the least quoted bidder for the supply of 100 electric buses.

"Consortium of Evey Trans Pvt Ltd (EVEY) and Olectra Greentech Ltd has been declared as least quoted (L-1) bidder for another 100 electric buses (for Inter-City Operations) by one of the State Transport Corporation under the FAME-I1 scheme of Government of India," Olectra Greentech said in a regulatory filing on Monday.

Olectra Greentech said once the letter of award is received for 100 electric buses, Evey will procure these electric buses from Olectra Greentech Ltd and deliver them over a period of 10 months.

"Value of this tender is approximately Rs 250 crore to the company," Olectra Greentech said. Shares of Olectra Greentech were trading 4.97 per cent higher at Rs 187.85 apiece on BSE.