- Order worth US $ 26 million
- Deliveries to be completed before March 2011
Ashok Leyland, the Hinduja Group flagship, has bagged an order for 1,000 buses from the People’s Leasing Company in Sri Lanka. Worth around US $ 26 million, this represents the Company’s largest single order for buses from that country. Delivery of the 1,000 ‘Viking’ buses, varying from 42 – 58 seaters, will commence with immediate effect and have to be completed before March 2011.
Ashok Leyland is a leader in the Sri Lankan bus market having sold 8,000-plus buses over the past 6 – 7 years. “With Lanka Ashok Leyland, a joint venture between the Government of Sri Lanka and Ashok Leyland that was formed in 1983, we have been playing a vital role in helping develop the country’s economy not only by delivering appropriate transport solutions but also by providing employment for the local populace,” said Mr. R. Seshasayee, Managing Director, Ashok Leyland. “This order is one more important step in that direction,” he added.
With the cessation of hostilities, the north and east of Sri Lanka have once again opened up for trade, commerce and people’s movement and these buses which will be sold by the People’s Leasing Company to the country’s private sector to be used to improve connectivity to these regions.
The order is being part funded by the Asian Development Bank.
About the Hinduja Group
Hinduja Group is an investment and banking group with a diversified global portfolio of holdings across the manufacturing services and banking sectors. The Group, founded by Shri P.D. Hinduja in 1914 has activities across three core areas: Investment Banking, International Trading and Global Investments. It also supports charitable and philanthropic activities across the world through the Hinduja Foundation. As part of its Global investments, the Group owns businesses in Automotive, Information Technology, Media, Entertainment & Communications, Banking & Finance, Infrastructure Project Development, Chemicals & Agri business, Energy, Real Estate, Trading and Healthcare. www.hindujagroup.com.
About Ashok Leyland
Ashok Leyland is the flagship of the Hinduja Group and a leading manufacturer of commercial vehicles in India with 2009/2010 turnover of US $ 1.6 billion. With seven manufacturing locations at Chennai, Hosur (three plants), Alwar, Bhandara and Pantnagar (Uttarakhand), the Company has a production capacity of 150,000 vehicles. Ashok Leyland has associate companies in the Czech Republic and the UAE and a joint venture in Sri Lanka, besides exports to over 20 countries worldwide. www.ashokleyland.com