Canindia News

TN to buy 2,623 buses with financial assistance from KFW

Chennai, Sep 27 (IANS) As a part of its plan to modernise the bus fleet of its transport corporations, Tamil Nadu government has decided to buy 2,123 BS-VI emission compliant buses and 500 electric buses with the debt assistance provided by German development bank KFW.

In a statement issued here, the government said a Project Agreement was signed with KFW on Thursday for financial assistance of Rs 1,580 crore.

The Tamil Nadu government had earlier announced that it would acquire 12,000 new buses and 2,000 electric buses with KFW’s debt of Rs 5,890 crore.

According to the state government, under the Project Agreement, setting up of charging stations for electric vehicles, acquisition of software and hardware for the upgradation of transport department, setting up of passenger information systems, cashless ticketing and others will be implemented.

–IANS

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