Home ODISHA LATEST Chennai-based AB Enterprises plans to run buses in Odisha

Chennai-based AB Enterprises plans to run buses in Odisha

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Chennai: Inter-city bus operator AB Business Enterprises P Ltd is planning to operate bus service in Odisha on public-private-partnership (PPP) model, said a company official.

“The group was also in discussion with the Odisha government to operate bus services on PPP model,” A. Afzal, Chairman and Managing Director, told reporters here on Wednesday.

Afzal informed it to the media while speaking about an MoU which they are will soon sign with the Assam government to operate bus service on PPP model.

“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 added.

He said the company would be paid for each kilometre the buses run.

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.

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. (With IANS Inputs)

 

 

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