Ashok Leyland, the 2nd largest commercial vehicle manufacturer in India, has bagged two large integrated transport projects in Tanzania and Zimbabwe, together worth USD 79.2 million.
Besides the supply of trucks, buses, LCVs, Spares and Allied Support Services, these projects will address a variety of mobility requirements in various tourism and economic development programs. Exim Bank has financed these projects under their NEIA scheme that supports project exports from India.
Vinod K. Dasari, MD, Ashok Leyland said, ''We have made a conscious effort to provide thrust to our international operations, and Africa is a very important part of this strategy. It is very encouraging to see our efforts bear fruit. These projects are a continuation of the many pilots we have done across Africa to offer integrated offerings and these orders have been won in the face of stiff global competition. I am confident this is the beginning of a successful new area of enhanced cooperation between Ashok Leyland, Africa and our valued customers.''
Shares of the company gained Rs 0.85, or 1.56%, to trade at Rs 55.35. The total volume of shares traded was 714,223 at the BSE (10.34 a.m., Monday).