Ashok Leyland Bags $79.2 mn Project in Tanzania, Zimbabwe

  • Eyes one third of its revenue from exports in three yearsimages (2)
Chennai-Ashok Laylandhas bagged orders worth $79.2 million from Tanzania and Zimbabwe.
The company will supply trucks, buses, LCVs, spares and allied supported services (including training and development consultancy) as part of the deal.
The projects have been financed by EXIM Bank under their National Export Insurance Account (NEIA) scheme.
Vinod K Dasari, managing director, Ashok Leyland said Africa is an important part of its international strategy.
The company is targeting one third of its revenues from exports in the medium term. For this, it is planning to expand its foot print to Africa, North America and even to Russia.
The company’s exports grew 24% year-to-date, CFO Gopal Mahadevan said earlier.