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 Renewal of city bus fleets by retirement of 17000 old diesel powered buses and supply of CNG powered city buses

 
     
 

Project Title:

Renewal of city bus fleets by retirement of 17000 old diesel powered buses and supply of CNG powered city buses.

 

Brief Description:

This project is basically aiming at reducing diesel fuel consumption by fuel shifting of considerable share of the operating fleet from diesel to CNG. In this project, diesel powered city buses older than 10 years, are considered to be retired and replaced by new CNG powered buses. The earned value of replacing every single bus in its first five years of operation shall be paid back to the investor(s) of the project at seasonal intervals.

 

Project Timeline:

The supply of new CNG buses has been predicted to be accomplished in 4 years according to table (a). Relatively, the total annual cash flow of repayment to the investor(s) is calculated in table (b) which extends the total duration of the project to 8 years.

Table (a)

Year

2014

2015

2016

2017

2018

2019

2020

2021

Total

# of supplied CNG buses

1000

4000

6000

6000

0

0

0

0

17000

 

Project Payments:

The payments are based on operation and monthly trip of new buses in the fleet. The buses shall be equipped with AVL devices to control and validate their operational conditions. Total payments are based on 22 USD¢ per kilometer of operation for every single bus.

Table (b)

Year

2014

2015

2016

2017

2018

2019

2020

2021

Total

Maximum annual payment (M USD)

0

106

232

359

359

359

253

127

1795

 

Project Achievements:

The major achievements of implementation of such project, considering benefits of first five years of operating new CNG buses are potentially as follow;

Maximum Diesel Fuel volume replaced by CNG:                    3884 (million liters)

Maximum carbon emission reduction:                         3 (million tons) of CO2 equivalent