Zhongtong Bus signs a $64 mln deal for large bus export

Shanghai, May 20 (Gasgoo.com) Zhongtong Bus Holding Co, a Chinese company that produces large buses, said today that it landed a huge deal for overseas sales one month ago.

The company signed the contract with a Saudi Arabian company on April 13, 2008 with the total contract value of $64million, equal to 448 million yuan, said Zhongtong. The Saudi Arabian company will purchase 1,600 units of the Zhongtong 6103G and 6112G bus.

Currently Zhongtong Bus has received a down payment of 10%. Zhongtong Bus said it was paid by L/C and the goods would be delivered by monthly shipment till September, 2008.