Bus maker and passenger transport service provider, Chartered Speed Pvt Ltd (CSPL) on Tuesday informed that it has secured an order from the civic body, Surat Municipal Corporation to operate, maintain and build bus bodies for local transport in Surat.
The order is for a period of seven years, as the company emerged the lowest bidder for the order amounting to ₹ 50 crore each year for a period of seven years.
The project execution will commence from October 2016 onward, the company informed here.
"The tender was floated by Surat Municipal Corporation for city bus services for 7 years. An expansion into Surat is in tune with our objective to offer our bouquet of services to more people pan India," said Pankaj Gandhi, Managing Director, Chartered Speed, which reported a turnover of ₹ 200 crore for the fiscal 2016.
The intra-city transport service provider currently, has a fleet size of 700 buses that it operates in Indore and Ahmedabad for BRT service.
Surat is a vantage location and will help the company to tap nearby cities such as Mumbai, Pune and Nasik for inter-city passenger travel services, it added.
Set up in 2010, the company's operations spread across Gujarat, Madhya Pradesh, Rajasthan and Maharashtra.
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