Ashok Leyland to set up plants in China, Pakistan
By Our Corporate Bureau | 20 Jan 2004
The company is also investing Rs 140 crore in hiking its vehicle production capacity by 17,000 units to 67,000 vehicles and 77,000 engines annually by July 2004.
To fund the capacity expansion over the next two years, the company is considering an option to raise equity in the near future.
The company expects to increase its vehicle exports by 35 per cent to 3,500 vehicles during the fiscal ending March 31, 2004.
The company's domestic sales during April-December 2003 surged by 39.7 per cent to 30,501 while exports jumped 79.8 per cent to 2,275 units.
According to R Seshasayee, Managing Director, Ashok Leyland, a decision to export components to Japan's Hino Motors for assembly and manufacture of engines was also expected to be taken within the next 6-12 months.
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