Ashok Leyland Wins Order Worth Rs 1,140 Crore From Tanzania Government

Indian commercial vehicle manufacturer Ashok Leyland has won an order worth Rs 1,140 crore from the Tanzanian government.

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India's leading commercial vehicle manufacturer Ashok Leyland has bagged an order from the United Republic of Tanzania.

The order is worth $170 million (Rs 1,140 crore). Ashok Leyland will be supplying vehicles, spares and equipment and gensets for development of workshops, training modules and allied equipments to be fitted on ambulances.

This was stated by Ashok Leyland in a Bombay Stock Exchange filing. This order is financed by EXIM Bank of India under National Export Insurance Account (NEIA) Scheme.

Managing Director, Ashok Leyland, Vinod K Dasari 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."

He added, "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."

Ashok Leyland has already supplied 773 vehicles to Tanzania under Line of Credit from the Government of India.

Currently, the company is dispatching another order of 777 vehicles to the Ministry of Home Affairs in Tanzania.

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Story first published: Thursday, October 20, 2016, 17:06 [IST]
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