Olectra Greentech bags ₹1000-crore order for 550 electric buses from Telangana
These orders for supply of 500 electric buses and 50 electric buses are to be on gross cost contract, Olectra Greentech said
New Delhi: Olectra Greentech Limited, a subsidiary of Megha Engineering & Infrastructures Limited (MEIL), on Monday said it has received an order for 550 pure electric buses from the Telangana State Road Transport Corporation (TSRTC) worth ₹1,000 crore.
The buses will be delivered over 16-months. “These orders for supply of 500 electric buses and 50 electric buses are to be on gross cost contract (GCC) / OPEX model basis for a period of 12 years and 10 years (contract period) respectively,” the company said in a BSE filing.
“We won the order to supply 50 standard floor 12-metre intercity coach e-buses and 500 low floor 12-metre intracity e-buses from the TSRTC. We are proud to partner with the TSRTC in their vision for a sustainable and economical large-scale public transport. The e-buses will be delivered in phases soon. Olectra’s pure e-buses will significantly reduce the noise and emission levels in the city of Hyderabad,“ said K.V. Pradeep, chairman and managing director of Olectra Greentech Limited.
“Olectra’s association with TSRTC began in March 2019, with 40 e-buses. These e-buses have been plying from the airport to various destinations in Hyderabad. Exactly four years later, in March 2023, Olectra has partnered with TSRTC once again for 550 e-buses,” added Pradeep.
The 50 intercity coach e-buses will ply between the city of pearls, Hyderabad in Telangana and Vijayawada in Andhra Pradesh. The e-buses are fully air-conditioned and can travel a distance of more than 325 km on a single charge.
In the intracity segment, the 500 e-buses will ply within Hyderabad. Each e-bus can travel a distance of more than 225 km on a single charge.
TSRTC has allotted five depots in the twin cities for the deployment and operations of these e-buses.
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Business NewsNewsIndiaOlectra Greentech bags ₹1000-crore order for 550 electric buses from Telangana
First Published:6 Mar 2023, 05:17 PM IST
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