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Olectra Green bags Rs 3,675cr BEST order
OLECTRA has bagged the biggest ever order in its history for 2100 electric buses from the Brihanmumbai Electric Supply & Transport
Hyderabad: City-based Olectra Greentech Limited (OLECTRA) has bagged the biggest ever order in its history for 2100 electric buses from the Brihanmumbai Electric Supply & Transport (BEST). The value of this order is Rs 3,675 crore. Evey Trans Private Limited (EVEY) has received the Letter of Award (LoA) from BEST. The company was been declared as L1 (least quoted) bidder. This is also the biggest order (Letter of Award) in Indian Electric mobility history till date.
This order is to supply the 2,100 electric buses on the Gross Cost Contract (GCC) /Opex model for 12 years. EVEY will procure these buses either directly by itself or through its Special Purpose Vehicle from Olectra. Olectra shall also undertake maintenance of these buses during the contract period. This transaction between Olectra and EVEY will be considered related party transactions and shall be on an arm's length basis.
"We feel happy to receive this biggest order from Brihanmumbai Electric Supply & Transport (BEST). 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 Limited said.
The pioneer and leading Electric mobility player Olectra Greentech Limited manufactures 12 metre AC buses to meet this obligation. It is already operating 40 electric buses for BEST in Mumbai. Currently, EVEY and Olectra Greentech Limited are operating electric buses in various State transport undertakings in the country, such as Pune (PMPML), Hyderabad, Goa, Deharadun, Surat, and Ahmedabad, Silvasa, and Nagpur.
