Ashok Leyland Makes it Big, Signs Huge Deal with Tanzania
Published On Oct 21, 2016
There are many ways an Indian manufacturer can make the country proud and winning an international deal worth INR 1140 crores from a foreign government is certainly one of them. Ashok Leyland, popular for its trucks and buses in the Indian subcontinent, has won a contract of supplying vehicles, spares, equipment and gensets to the Tanzanian Government. The supplies will be used for developing workshops, training modules and as fitments over ambulances.
Vinod K Dasari, Managing Director, Ashok Leyland in a statement elaborated, "Export to key international markets is an essential part of Ashok Leyland's strategic intent to globalise its product portfolio and de-risk 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."
All the developments taking place between Ashok Leyland and Tanzanian Government were announced by the CV manufacturer in a Bombay Stock Exchange (BSE) Filing. This large order by the Government of Tanzania will be financed by the EXIM bank of India under the prestigious National Export Insurance Account (NEIA) scheme.
Ashok Leyland has already supplied 773 vehicles to Tanzanian Government, and is working on the next batch of 777 vehicles. All the vehicles have been supplied under Line of Credit provided by the Government of India. The vehicles were transported to the Ministry of Home Affairs for Tanzania.
The fact that Indian commercial vehicle manufacturers have the ability to design, develop and deliver quality products in lesser research expenditure is certainly catching eye balls around the world. And with major CV players designing and exporting trucks and buses developed in India to other countries in the world, the day is not far when India will be looked upon as the hub of commercial vehicle manufacturing.