The Kerala Government on Wednesday nodded to approve purchase of a fleet of 700 CNG buses in a bid to stimulate support to cash-strapped Kerala State Road Transport Corporation (KSRTC). A cabinet meeting chaired by Chief Minister of State CM of Kerala, Pinarayi Vijayan approved of purchasing the fleet of environment friendly buses for the KSRTC-SWIFT for an expenditure of INR 455 crores supported by a loan from Kerala Infrastructure Investment Fund Board (KIIFB) at an interest rate of 4 per cent. KSRTC-SWIFT is a new entity formed by the Corporation to run long-distance bus service.

Transport Minister of Kerala Antony Raju remarked that the new buses are being bought as part of the revive the cash-strapped State Transport Corporation and improve revenue to register growth. Raju have been hopeful about the growth of the Kerala State Road Transport Corporation (KSRTC) with prominent development in Public Transport facility.

At present, only one CNG bus is operated on an experimental basis under KSRTC in the southern State, official statement recorded.

 

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