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*For EV Enthusiasts: Evey Trans Private Limited (EVEY) has received two Letter of Awards (LOAs) from Telangana State Road Transport Corporation (TSRTC) for 550 Electric Buses consisting of 500 Buses for Intra-city and 50 Buses for Inter-city operations, respectively.*
· The value of these 550 Buses supply would be approximately Rs.1,000 Crores for Olectra.
· Maintenance of these buses shall also be undertaken by the Olectra during the Contract Period.
· EVEY has been awarded with two Letter of Awards from TSRTC brief; consisting of 500 Buses for Intra-city and 50 Buses for Inter-city operations, respectively.
· 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.
· EVEY shall procure these buses from Olectra Greentech Limited ("Olectra") and which shall be delivered over a period of 16 months.
· The value of these 550 Buses supply would be approximately Rs.1,000 Crores for Olectra.
· The transactions between Olectra and EVEY are to be considered as related party transactions and shall be conducted at arm's length basis.
ALSO RECENT TIE UP WITH RELIANCE FOR HYDROGEN VEHICLES.
By: via Telegram.me/AlliesFin #StockMarket #india
