Olectra Greentech Limited, in collaboration with Evey Trans Private Limited, has been awarded a significant contract by Brihan Mumbai Electric Supply & Transport Undertaking (BEST) for the Supply, Operation, and Maintenance of 2,400 Electric Buses. The Letter of Award (LOA) for this groundbreaking project has been received by the consortium.
Key Details of the Contract:
- Entities Involved: The order is awarded by Brihan Mumbai Electric Supply & Transport Undertaking (BEST).
- Consortium: Olectra Greentech Limited and Evey Trans Private Limited (EVEY) form the consortium.
- Scope of Contract: The consortium will be responsible for the Supply, Operation, and Maintenance of 2,400 Electric Buses on a Gross Cost Contract Basis.
- Contract Period: The contract is set for a period of 12 years.
- Delivery Timeline: The 2,400 Electric Buses are expected to be delivered over a span of 18 months.
- Contract Value: The approximate value of the supply of these 2,400 Electric Buses is Rs. 4,000 Crores for Olectra.
Additional Information:
- The contract follows the Gross Cost Contract (GCC) or Operational Expenditure (OPEX) model for a duration of 12 years.
- EVEY will procure the buses from Olectra Greentech Limited.
- Olectra will handle the maintenance of the buses during the entire contract period.
- The transaction between Olectra and EVEY is categorized as a related party transaction and will be conducted at arm’s length.
This major initiative aligns with the commitment to sustainable and eco-friendly public transportation and marks a significant milestone for Olectra Greentech Limited and its consortium partner EVEY.
