Ashok Leyland bags order from Tanzania government for vehicles, gensets, spares and several ambulance equipment
Ashok Leyland has bagged order of Rs. 1,140 crore from United Republic of Tanzania, which comprises vehicles, gensets, spares for vehicles and ambulance equipment as well. The company is known for manufacturing buses and trucks and in several African markets it exports the vehicles. The order is fully being financed by EXIM Bank of India under national Export Insurance Account (NEIA) scheme.
The Hinduja Group owned company has just supplied 773 vehicles to Tanzania as part of credit from Indian government. Also it is presently executing order to supply 777 more vehicles to Tanzanian ministry of Home Affairs. The repeat order from Tanzanian government shows trust the company has earned.
Apart from the order from Tanzanian government Ashok Leyland has also earned $200 million order from Cote D’Ivore. This certainly reveals the company’s acceptance in African markets. Speaking about the new deal Mr. Vinod K. Dasari, Managing Director of Ashok Leyland Limited has said, export to key international markets is an essential part of Ashok Leyland’s strategic intent to globalize its product portfolio.
Mr. Dasari also believes that, alongside making and selling vehicles or Indian domestic market such orders will strengthen Ashok Leyland’s growth further. He also stated, such huge orders from African markets shows the trust the company has earned, and it will also help Ashok Leyland to work enthusiastically in future.
Also read: Ashok Leyland Bags Order for 3600 Buses
Apart from manufacturing and selling buses and trucks in Indian domestic and foreign market Ashok Leyland also manufactures defence vehicles. Two months back, the company bagged an order of around Rs. 500 crore for 1200 trucks from logistics start-up Rivigo. Also the company has earned an order of 3,600 buses earlier this year, which are to be executed in this fiscal.