King Long United Automobile Industry and ICBC provide 300 LNG buses to Peru

On April 3, 2012, King Long United Automobile Industry (Suzhou) Co., Ltd. (Higher Bus Company) and Lima Vías Express SA signed a cooperation agreement, stipulating that Higher Bus Company will provide 300 LNG buses to Lima Vías Express SA for public transportation through a financial leasing program. The Industrial and Commercial Bank of China (ICBC) will provide financing for the project. Information regarding a project to renovate Lima's transportation with natural gas vehicles ("Proyecto de Renovación Vehicular de la Ciudad de Lima con Buses a Gas Natural Vehicular") using King Long brand buses is available, citing the price of each bus as about 195,000 USD including transport fees, insurance, and other associated costs. It is not clear where the financing is coming from for this project, but lending terms included a 8.5% interest rate and an 8 year repayment period. The proposal for this project is sponsored by a different Peruvian company, indicating the project may have been suspended, cancelled, or changed implementing companies. However, no evidence is available that the project to acquire these buses was ultimately carried out.

Additional details

Although there is no date on the "Exposition del Proyecto de Renovación..." source, the associated company, Peru Cetu SA, was not created until 2015.

Number of official sources

2

Number of total sources

2