1. Ashok Leyland bags $170-million order from Tanzania government

Ashok Leyland bags $170-million order from Tanzania government

Hinduja group flagship Ashok Leyland Limited on Thursday announced that it has won an order valued at $170 million from the Tanzanian government for the purchase of gensets, spares and equipment for development of workshops, training modules and allied equipment to be fitted on ambulances.

By: | Chennai | Published: October 21, 2016 6:26 AM
Ashok leyland shares Announcing the deal, Vinod K Dasari, managing director, Ashok Leyland, said, “Exports to key international markets is an essential part of company’s strategic intent to globalise its product portfolio and derisk itself from supplying only into India.” (Source: Reuters)

Hinduja group flagship Ashok Leyland Limited on Thursday announced that it has won an order valued at $170 million from the Tanzanian government for the purchase of gensets, spares and equipment for development of workshops, training modules and allied equipment to be fitted on ambulances. This latest order is being financed fully by Exim Bank of India under National Export Insurance Account (NEIA) Scheme.

Announcing the deal, Vinod K Dasari, managing director, Ashok Leyland, said, “Exports to key international markets is an essential part of company’s strategic intent to globalise its product portfolio and derisk itself from supplying only into India.”

“The new order from Tanzania, valued at $170 million fast on the back of the $200 million by the Cote D’Ivore – reiterates market acceptance of Ashok Leyland’s products in the African region. We, at Ashok Leyland, are truly enthused by this strategy to expand our global presence, as we are certain it will pay rich dividends in the future,” he added.

It may be recalled that Ashok Leyland had recently concluded the supply of 773 vehicles to Tanzania under Line of Credit from the Indian government.

Please Wait while comments are loading...

Go to Top