In a few months, Noida residents may hail a city bus ride every 10 minute
Noida: The Noida, Greater Noida and Yamuna Expressway development authorities will jointly form a special purpose vehicle (SPV) unit to operate a fleet of 500 electric buses, with Noida leading the initiative.
A consultant will be appointed to define the SPV's structure and recommend board members.
The proposal for the project was recently discussed in a meeting in Lucknow attended by Noida Authority officials. Once set up, the SPV's details will be shared with the state govt. According to officials, the SPV will bear the operational costs of buses, which will be run by private agencies. Proposed equity split for the SPV is 48% for Noida, and 26% each for GNIDA and YEIDA.
Meanwhile, the Directorate of Urban Transport (DUT) is working to hire an agency to operate the buses under the gross cost contract (GCC) model. The project is estimated to cost Rs 675 crore – which would cover the cost of purchasing e-buses, fast chargers (240 kW), plant and equipment, tools, and depot maintenance.
Noida CEO Lokesh M said, "To run these buses, an SPV of the three authorities will be formed. While the DUT is procuring the buses and hiring an agency to run them, the viability gap funding will come from the authorities according to their stakes."
The SPV will be ready by the time the operators and buses are in place, he added.
As per the request for proposal (RFP) floated by DUT in March, the 500 buses will be deployed across 25 routes – 15 in Noida, seven in Greater Noida seven, and three in the YEIDA area. Under this plan, 300 buses will be deployed in Noida (150 12m ones and 150 9m ones), and 100 each will be deployed in Greater Noida and YEIDA. A maximum of two operators will manage the fleet, with services expected to commence in the second half of the year.
Buses will ply at 10-15 minute intervals during peak hours and 15–20 minutes during off-peak times. The SPV will manage the fare system, while the operators will be paid on a per-kilometer basis. The project is planned for a 12-year term.
As per the RFP, each bus is meant to ply 200km per day. However, in practice, buses may run 250–300km daily.
Additional SPV-related costs include salaries for 50 employees (Rs 3 crore annually), office and utility expenses (Rs 2–3 crore), fare collection systems (Rs 2.5–3 crore), a project monitoring unit (Rs 1 crore), and depot maintenance (Rs 1–1.5 crore).
Officials said that fares are expected to generate Rs 135 crore annually, with another Rs 10 crore from advertising. However, despite total revenues of Rs 145 crore, projected expenses exceed Rs 370 crore, creating a funding gap of Rs 225–230 crore annually.
Noida Authority's share of the viability gap funding (VGF), based on its 48% stake, comes to about Rs 107 crore per year, or Rs 1,290 crore over the contract's 12-year duration.
Initially, buses will be operated from terminals located in Sector 82 and Sector 91. Noida Authority will handle the necessary infrastructure development. Within one year of the agreement, Greater Noida and YEIDA will each construct one bus depot, officials added.
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