Sajha Yatayat, public transportation bus system in Nepal, has signed an agreement with Indian automobile manufacturer Ashok Leyland to buy 12 deluxe buses and one semi-floor bus.
The buses, with 40 seats, will be bought at Rs 50 million shares from the Kathmandu Metropolitan City (KMC), reports the Kathmandu Post.
Mahendra Raj Pandey, chief executive officer of Sajha Yatayat, said, the company will start the process of bringing the buses as soon as it receives the money from the metropolis.
"Once we get the money from the KMC, we will open Letter of credit," said Pandey.
He said the cooperative will hand over a share certificate to the metropolis.