Ashok Leyland bags order worth Rs. 1,140 cr from Tanzania
The Dollar Business Bureau Ashok Leyland, the leading Indian commercial vehicle manufacturer, on Thursday said it has got an order worth Rs.1,140 crore ($170 million) from Tanzania for supplying vehicles, gensets, spares, etc. The order also consists of supplying equipment for workshop development, training modules and related equipment to be equipped on ambulances, the company said in a filing with BSE. “The new order from Tanzania, valued at $170mn, fast on the back of the $200mn by Cote D'Ivore also reiterates the market's acceptance of Ashok Leyland's products in the African region,” said Vinod Dasari, Managing Director of Ashok Leyland. He further said that export to major overseas markets is a vital part of the company's strategic intent to globalize its products and de-risk ...
Ashok Leyland plans to set up plants in Kenya, Bangladesh
The Dollar Business Bureau Ashok Leyland (ALL) announced it will establish its assembly plants in Bangladesh and Kenya. The Chennai-based automobile maker plans to manufacture trucks in Bangladesh and buses and trucks in Kenya. The company has also decided to scale up its capacity in Ras Al Khaimah (UAE) to 6,000 units per annum to tap the growing demand of African and West Asian countries in a big way. “We will be investing $5 million in Kenya and the same amount will be invested by our franchisee in Bangladesh. Both plants will have an annual capacity of 3,000 units to be scaled up based on the demand,” said Gopal Mahadevan, chief financial officer, ALL. Mahadevan said Kenya has emerged as a key market for ALL ...
Ashok Leyland to export vehicles worth $200 million to Ivory Coast
The Dollar Business Bureau The vehicles, which include trucks and buses, will be delivered over the next 12 months, Ashok Leyland said India-based commercial vehicle maker Ashok Leyland will export 3,600 buses and trucks worth $200 million to Cote D’Ivore in the next one year. Ashok Leyland on Thursday said that it has signed a contract with the government of the West African country for the supply of 3,600 vehicles. “The contract is being funded by Exim Bank of India and is pending final clearance from respective governments,” the automobile major said in a statement. The vehicles, which include trucks and buses, will be delivered over the next 12 months, the company said. “I am proud that the government of Cote D’Ivoire ...
Mahindra to invest Rs.700 cr to boost truck manufacturing
The Dollar Business Bureau Mahindra Truck and Bus Division, a part of $16.9-billion Mahindra Group that manufactures all variants of trucks, on Wednesday said that it will invest Rs.700 crore to bolster its commercial vehicle segment. Emphasising on the company’s visions, Rajan Wadhera, President and Chief Executive - Truck & Power Train - M&M Ltd, said, “The CV (commercial vehicle) industry has seen an upturn over the last few quarters which is a good sign. At Mahindra we have been steadily growing and are fully committed to our commercial vehicles business and taking aggressive steps to become a complete CV range player. “With planned investments and enhancement of our product portfolio, we look forward to ride the growth trajectory,” he added. ...
