(Alliance News) - Iveco Group NV on Tuesday announced that Iveco Bus, the company's city, intercity and touring bus brand, has been chosen as the main supplier of Brazil's school transportation program for rural areas, known as "Caminho da Escola."

Following the award of a tender put out by the National Fund for Education Development-Fundo Nacional de Desenvolvimento da Educação-Iveco Bus will supply up to 7,100 vehicles over two years, from 2024 to 2025, worth BRL3.1 billion, about EUR580 million at current exchange rates.

The supply includes 3,600 school buses, suitable for rural areas, with a capacity of 44 seats and 3,500 with a capacity of 59 seats. These vehicles, designed for use in rural areas and on dirt roads, will contribute to daily access to basic public education by Brazilian students, the company explained in a note.

Iveco on Tuesday closed in the green by 2.6 percent at EUR7.38 per share.

By Claudia Cavaliere, Alliance News reporter

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