Paradeep Parivahan Limited Signs 8-Year Electric Vehicle Fleet Agreement with UltraTech Cement

1 min read | Published on 23 Jan 2026, 12:19 PM |Updated on 23 Jan 2026, 12:19 PM

Reviewed by

Riya DScanX News Team

Key Highlights

Paradeep Parivahan Limited has secured an 8-year agreement with UltraTech Cement Limited to deploy electric vehicles for bulk transportation between Rajasthan and Uttar Pradesh facilities. The project involves replacing conventional diesel trucks with electric vehicles on high-volume industrial routes, representing one of India's largest trans-state electric vehicle fleets. While financial terms remain confidential, the agreement provides long-term revenue visibility and positions the company as a leader in sustainable commercial transportation.

*this image is generated using AI for illustrative purposes only.

Paradeep parivahan Limited has announced a major strategic partnership with UltraTech Cement Limited through an 8-year agreement for electric vehicle fleet deployment. The announcement was made on January 23, 2026, through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agreement Overview

The partnership represents one of the largest trans-state fleets of electric vehicles for bulk transportation in India. The project specifically focuses on replacing conventional diesel-powered heavy trucks with electric vehicles for high-volume industrial transportation needs.

Parameter	Details
Agreement Duration	8 years
Contracting Parties	Paradeep Parivahan Limited and UltraTech Cement Limited
Entity Type	Domestic Entities
Transportation Route	UltraTech's Rajasthan to Uttar Pradesh facilities

Project Scope and Implementation

The electric vehicle deployment will serve UltraTech Cement's transportation requirements between their Rajasthan and Uttar Pradesh facilities. This initiative represents a significant shift from traditional diesel-powered heavy trucks to environmentally sustainable electric vehicles for bulk transportation on high-volume industrial routes.

The agreement structure ensures dedicated fleet services for UltraTech's cement transportation needs while supporting the broader industry transition toward sustainable logistics solutions.

Commercial and Regulatory Details

The financial terms and order value of the agreement remain undisclosed due to confidentiality obligations specified in the contract. The company has confirmed that the arrangement does not constitute a related party transaction, with no promoter or group company interests in UltraTech Cement Limited.

Aspect	Status
Order Value	Confidential
Related Party Transaction	No
Promoter Interest	None
Execution Timeline	8 years

Strategic Significance

This partnership positions Paradeep Parivahan Limited as a key player in India's electric commercial vehicle sector. The 8-year tenure provides long-term revenue visibility while demonstrating the company's capability to handle large-scale electric fleet operations for major industrial clients.

The agreement aligns with India's push toward sustainable transportation and represents a significant step in the electrification of heavy-duty commercial vehicle operations in the cement industry logistics sector.

Historical Stock Returns for Paradeep Parivahan