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FINANCIAL NEWS
Ashok Leyland opens $50m plant in RAK
19 Dec 2010
(MENAFN) Ashok Leyland said that it has set up as a joint venture automobile assembly plant with the Hinduja Group in Ras Al Khaimah and the Ras Al Khaimah Investment Authority, Gulf News reported.
The $50 million plant will cater to markets in the Gulf Cooperation Council, Africa and Europe.
Sheikh Saud Bin Al Qasimi, Supreme Council member and ruler of Ras Al Khaimah inaugurated the facility, which will spread over in 100,000 sq m with a built-up area of 20,000 square meters.
The factory will have an initial annual capacity of 2,000 buses and trucks, the company said. For the Hinduja Group, this is an important step in reinforcing our presence in the Middle East, said Srichand P. Hinduja.
The European brand of trucks, currently produced at Prague-based Avia Ashok Leyland Motors, would be produced at the RAK plant. The D-Line series of Avia trucks will complement Ashok Leyland�s medium and heavy-duty trucks, in serving the traditional markets of Africa, UAE and neighboring regions, the company said.
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