Yutong and Venezuela Officially Signed Sales Contract of 1500 Units Buses

According to sources from Yutong Bus on August 26, 2014, based on the memorandum between Xianggang Yutong, Yutong"s wholly owned subsidiary, and Venezuela Bolivar Ministry of Land Transport, Xianggang Yutong signed sales contract with FONTUR, a subsidy of Venezuela Bolivar Ministry of Land Transport, to supply 1500 units of buses and spare parts, tools, maintenance service and intelligence bus operation management system.

The total contract amount is $0.326 billion to be payed by US dollar funded by China- Venezuela fund. The contract will become effective once Xianggang Yutong receive the advance payment. The the execution of the contract  is expected to be completed before June 30, 2015.