SHAH ALAM: Bus service operator Nadicorp Holdings Sdn Bhd has signed a seven-year US$77mil financial agreement with Samsung Corp to purchase 465 compressed natural gas (CNG)-powered buses, pioneering the use of the liquid for commercial bus operations.
Nadicorp executive chairman Datuk Mohd Nadzmi Salleh said that under the agreement, Samsung would, apart from being a technology partner and CNG chassis provider, be arranging and sourcing US$50mil from Korean banks as well as US$27mil from local banks to buy CNG bus chassis.
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