Chennai, Dec. 6 (IANS): Inter-city bus operator AB Business Enterprises P Ltd will soon sign an MoU with the Assam government to operate bus service on public-private-partnership (PPP) model, said a company official.
“We will operate our service in 10 destinations. The buses and drivers will be ours whereas the conductor will be an Assam government person as he has to collect the fare,” A. Afzal, Chairman and Managing Director, told reporters here on Wednesday. He said the company would be paid for each kilometre the buses run.
Afzal said the group was also in discussion with the Odisha government to operate bus services on PPP model.
The AB Enterprises is the holding company of the Rs 450 crore revenue group present in transport, logistics, hospitality and other lines.
Afzal said the company was in the process of raising Rs 250 crore from private equity investors and dilute around 25 per cent stake. He said the company will import 100 battery-operated buses from Hungary-based Carpel Holding Plc for inter-city operation in Tamil Nadu in 2019.
Afzal said studies are on to set up the necessary infrastructure for battery charging or replacement at every 250 km on the bus routes operated by the company. From one metre taxi in 1967, the group has come a long way to operate a fleet of 1,500 buses and several trucks, Afzal said.
