Telangana/China - Goldstone Infratech Ltd1 of Telangana, announced its investment of USD 87.89m in setting up its second plant in Bidar, Karnataka with installed capacity of 1500 buses. This plant expected to be operational within this financial year.
Expectations are observed in making Indian facility as hub for catering e-vehicle demands from the neighboring countries like Sri Lanka, Nepal, Bhutan, Myanmar and Bangladesh. The recent orders from Mumbai, Hyderabad and Bangalore states amounts to 290 vehicles with pipe line order expected from Private/government tender would keep the existing Hyderabad facility well occupied.
Currently Goldstone assembling electric buses in Technical collaboration since Nov’2016 with BYD Company Ltd. GIL has an assembly plants near Hyderabad with an annual capacity of 600 units and another upcoming plant at Bidar in Karnataka with a capacity of 1,500 units annually in the first phase, giving it a total capacity of 2,100 units per year.
Naga Satyam, President-Strategy, GIL said "We want to export electric buses from these plants to the neighboring SAARC countries like Nepal, Bhutan, Myanmar, Bangladesh and Sri Lanka. We will be the first company to export electric buses from India very soon,".
1Goldstone Infratech Limited (GIL) is a part of the Goldstone Group, with major interests in Composite Insulators, Amorphous core-distribution transformers, Data Analysis and IT Consulting.
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