Olectra Greentech Ltd. awards contract for construction of greenfield EV Manufacturing Facility.

Olectra Greentech Limited has awarded a contract for construction of the greenfield electric vehicle manufacturing facility on 150 Acres of the land situated at Seetharampur, Hyderabad, Telangana ("Greenfield EV Manufacturing Facility" or "Project") to Megha Engineering & Infrastructures Limited ("MEIL") which is the ultimate holding company and a related party to Olectra Greentech Limited ("Company/ Olectra").

As per the terms and conditions of the Tender, construction of the "Greenfield EV Manufacturing Facility" shall be completed within 12 months from the date of approval of the Shareholders ("Shareholders' Approval") (i,e 19.07.2023) and the proposed value of the contract is approximately INR 395.12 crores (inclusive of GST).

EQUITYBULLS