PURCHASES - INDIA - High Court ordered to replace 1,300 old buses
BEST looks to FIs to replace old buses
New Delhi,India -Times of India,by OLAV ALBUQUERQUE -JUN 26 2005: -- MUMBAI: A cash-starved Brihanmumbai Electric Supply and Transport (BEST) wants to raise Rs 200 crore from financial institutions to replace 1,300 old buses. It will first raise Rs 100 crore, which it badly needs for 2005-06 to buy the buses, and then may hire 10% of its fleet from private operators... Bombay High Court ordered BEST (on December 19, 2003), to phase out buses that would be over 15 years old by January 1, 2006. The judges ordered BEST to retro-fit 250 buses with Euro-II engines during 2004-05, 300 buses in 2005-06, 350 during 2006-07 and 400 buses in 2007-08...
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