CHENNAI: Ashok Leyland has signed an MoU with the Ras Al Kharimah Investment Authority (RAKIA), a public body established by the Government of Ras Al Kharimah (UAE), for setting up a bus assembly unit. The facility will be eventually upgraded to a vehicle assembly plant (for trucks and buses) in the second phase, according to a release issued here on Thursday. R. Seshasayee, Managing Director, Ashok Leyland, and Khater Massaad, Chief Executive Officer of RAKIA, signed the agreement, says a release.