1. Ashok Leyland bags Rs 1,140 crore order from Tanzania

Ashok Leyland bags Rs 1,140 crore order from Tanzania

Hinduja flagship firm Ashok Leyland said it has bagged order worth $170 million (about Rs 1,140 crore) from Tanzania to supply vehicles, gensets and spares, among others.

By: | New Delhi | Published: October 20, 2016 3:53 PM
Ashok leyland shares The order also includes supply of equipment for development of workshops, training modules and allied equipment to be fitted on ambulances, Ashok Leyland said in a BSE filing. (Reuters)

Hinduja flagship firm Ashok Leyland today said it has bagged order worth $170 million (about Rs 1,140 crore) from Tanzania to supply vehicles, gensets and spares, among others.

The order also includes supply of equipment for development of workshops, training modules and allied equipment to be fitted on ambulances, Ashok Leyland said in a BSE filing.

“The new order from Tanzania, valued at $170 million, fast on the back of the $200 million by Cote D’Ivore also reiterates the market acceptance of Ashok Leyland’s products in the African region,” Ashok Leyland Managing Director Vinod Dasari said.

He further said export to key international markets is an essential part of the company’s strategic intent to globalise its product and derisk itself from supplying only into India.

The latest order is being financed fully by EXIM Bank of India under National Insurance Account (NEIA) scheme.

Recently, the company had concluded the supply of 773 vehicles to Tanzania under Line of Credit from the Indian government.

“Further, the company is executing another oder for supply of 777 vehicles to the Ministry of Home Affairs in Tanzania,” the company said.

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