For Ashok Leyland, which is looking to derive a quarter of its revenues from exports, the opening of a plant in neighbouring Bangladesh will help it make inroads in the growing economy.
02 Feb 2017 | 16384 Views | By Kiran Bajad
Taking its goal of expanding in overseas market and derive a quarter of its revenues from exports, commercial vehicle manufacturer Ashok Leyland today announced the opening of its new assembly plant in Dhaka, Bangladesh.
Built over a period of 15 months, the plant is spread over 37 acres. The ...
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Taking its goal of expanding in overseas market and derive a quarter of its revenues from exports, commercial vehicle manufacturer Ashok Leyland today announced the opening of its new assembly plant in Dhaka, Bangladesh.
Built over a period of 15 months, the plant is spread over 37 acres. The facility is a strategic joint collaboration and tie-up between Ashok Leyland and IFAD Autos Ltd, Bangladesh. At present, Ashok Leyland vehicles are available across Bangladesh through 21-IFAD owned area offices and 12 dealers.
Speaking about expansion plans, Vinod K Dasari, CEO and managing director, Ashok Leyland, said, “With a comprehensive product portfolio, Ashok Leyland is working towards a renewed thrust in the international markets, with network expansion and dedicated products. Bangladesh is an important market for Ashok Leyland. With the inauguration of this new plant, together with the robust presence of IFAD Autos, we expect to make significant inroads into this region.”
Taskeen Ahmed, managing director IFAD Autos, said, “Bangladesh is a country that is developing very quickly. In such a scenario, Ashok Leyland vehicles will prove to be a boon for the country’s infrastructure. We look forward to forging a strong relationship with Ashok Leyland, as we have done in the past.”
This announcement comes on the back of Ashok Leyland’s vision to strengthen its overseas presence. With a capacity to roll out 600-800 vehicles each month, the plant is equipped with state-of-the-art manufacturing equipment and assembly lines. It will also be facilitated with a bodybuilding and vehicle testing facility, which will become functional in the next two years. In addition, a canteen and dormitory/ rooms for workers and employees to stay will ensure the well-being of the team.
Bangladesh has been a good traditional market for the Indian automobile sector and in view of the future growth potential, the Society of Indian Automobile Manufacturers (SIAM) has organised the Indo-Bangla Automotive Show 2017 from February 2-4. At the show, Ashok Leyland has displayed a range of its products suitable for this market.