Business News | OLECTRA Bags Order from Thane Municipal Transport Undertaking

Hyderabad (Telangana) [India], September 20 (ANI/PRNewswire): Olectra Greentech Limited (OLECTRA) and EVEY Trans Private limited (EVEY) consortium has received a Letter of Award from Thane Municipal Transport Undertaking for 123 Electric Buses. 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 crores.

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.

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The Olectra Greentech will maintain the buses 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.

On this occasion, K V Pradeep, Chairman and Managing Director, Olectra Greentech Limited, said, "We feel happy to get another order from the state of Maharastra. With this, our presence expanded to another city, Thane. We are already operating Electric Buses in Pune, Mumbai, and Nagpur in the state. In Maharastra alone, our Olectra E-buses have clocked over three crore kilometres and significantly reduced carbon emissions. Our E-buses are running all the corners in India. The Olectra E-buses clocked over seven crore kilometres on Indian roads."

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Established in 2000, Olectra Greentech Limited (a public listed company) - part of MEIL Group, pioneered the introduction of electric buses in India in 2015. It is also one of the largest manufacturer in India for Silicone Rubber/Composite Insulators for power transmission and distribution networks

Media contacts: M . Ganapathi+91-9100509633mganapathi@meilgroup.com

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