Ashok Leyland wins Rs 1140 cr order from Tanzania government

Posted on : Tuesday , 18th July 2017

Indian commercial vehicle manufacturer Ashok Leyland has won USD 170 million (Rs 1,140 crore) order from the Government of the United Republic of Tanzania for the purchase of vehicles, gensets, spares and equipment for development of workshops, training modules and allied equipment to be fitted on ambulances, informed the company in a Bombay Stock Exchange (BSE) filing.

Vinod K Dasari, Managing Director, Ashok Leyland said, "Export to key international markets is an essential part of Ashok Leyland's strategic intent to globalise its product portfolio and derisk itself from supplying only into India. The new order from Tanzania, valued at USD 170 million (Rs 1,140 crore) fast on the back of USD 200 million by the Cote D'Ivore - also reiterates market acceptance of Ashok Leyland's products in the African region."

This order is being financed fully by EXIM Bank of India under National Export Insurance Account (NEIA) Scheme.

Ashok Leyland had recently concluded the supply of 773 vehicles to Tanzania under Line of Credit from the Indian government. The company is currently executing another order for supply of 777 vehicles to the Ministry of Home Affairs in Tanzania.

Source : http://auto.economictimes.indiatimes.com

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