Ashok Leyland, the flagship of the Hinduja Group, strengthened its overseas presence by opening a new assembly plant in Dhaka in joint collaboration/tie-up with IFAD Autos Ltd., Bangladesh.
Built over a period of 15 months, the plant is spread over an area of 37 acres. It has a capacity to roll out 600-800 all range of vehicles per month, says a company statement.
IFAD Autos will be investing ₹75 crore, while the investment details of Ashok Leyland was not made public, said company sources.
The plant is equipped with state-of-the-art manufacturing equipment and assembly lines. It will also be facilitated with a body building 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, the statement said.
Vinod K. Dasari, Chief Executive Officer 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 Ltd. 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.”
