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Ashok Leyland Wins Rs. 1,140-Crore Deal In Tanzania

New Delhi: Hinduja flagship firm Ashok Leyland on Thursday said it has bagged an order worth $170 million (about Rs. 1,140 crore) from Tanzania to supply vehicles, gensets and spares, among other items.

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 filing to the BSE.

“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.

At 3:27 p.m., shares in Ashok Leyland were trading 1.66 per cent higher at Rs. 85.60 apiece on the BSE, whose benchmark Sensex index was up 0.52 per cent.

PTI