Dimapur, May 5 -- The Nagaland government on Tuesday signed a landmark memorandum of agreement (MoA) with Tata Motors Limited for the procurement of 43 buses to strengthen and expand public transport services under the Nagaland State Transport (NST) department.
The agreement, signed at the chief secretary's conference hall in Kohima, introduces a structured deferred payment mechanism, allowing the state to acquire the fleet without immediate heavy capital outflow.
The total project cost of Rs 13 crore will be paid in three installments over a period of three years, beginning with a mobilisation advance of Rs 5 crore, followed by Rs 4 crore each in the subsequent two years.
The payments will be serviced through state plan allocations, min...