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Friday, September 22, 2023

Olectra bags Rs 151 cr worth order from ASTC for supply of 100 e-buses


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Hyderabad: Hyderabad-based EV maker, Olectra Greentech Limited (Olectra) on Saturday said it has bagged an order worth Rs 151 crore from the Assam State Transport Corporation (ASTC) for the supply of 100 e-buses.

This is the first ever order bagged from the Northern-Eastern states, Megha Engineering and Infrastructure Limited (MEIL) said in a release here.

Olectra, a part of Hyderabad-based MEIL Group has received a Letter of Award (LoA) from ASTC for e-buses that will be delivered over a period of 9 months .

The company has received the order on an outright basis and will undertake maintenance of these buses for a period of 5 years.

Mr K V Pradeep, Chairman and Managing Director, said, ‘We feel happy to get the first order from the North-Eastern States and Assam.

With this order, our buses are running all the corners in India. Ours clocked over 5 crore kilometres on Indian roads, and reduced carbon emissions significantly’.

In July this year, the company had also bagged an order worth Rs 500 crore from the Telangana State Road Transport Corporation (TSRTC) for the supply of 300 e-buses under the FAME-II scheme of the Centre.

Olectra, pioneered the introduction of electric buses in India in 2015, is also the largest manufacturer in India for Silicone Rubber/Composite Insulators for power transmission and distribution networks.

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