A consortium of Evey Trans Pvt Ltd (EVEY) and Olectra Greentech Ltd has emerged as the L1 bidder for a Rs.250-crore order for electric buses.
The consortium has been declared L1 bidder by an unnamed state transport corporation under the FAME II Scheme of the Department of Heavy Industry, Government of India.
The tender is for the supply of 100 electric buses on (Gross Cost Contract (GCC) or OPEX model basis) for inter-city operations, for a contract period of 12 years.
Once the formal letter of award is received, EVEY shall procure these e-buses from Olectra Greentech Ltd and shall be delivered over a period of 10 months.
The transactions between Olectra Greentech and EVEY are to be considered as “related party” transactions, and shall be on arm’s length basis, Olectra Greentech said in a stock exchange filing.
Established in 2000, Olectra Greentech Ltd (a public listed company formerly known as Goldstone Infratech Ltd and part of the MEIL Group) pioneered the introduction of electric buses in India in 2015. It is also the largest manufacturer in India for silicone rubber/composite insulators for the power transmission and distribution industry.
