Ashok Leyland plans Rs.30 bn investment for expansion
June 17th, 2008 - 11:10 pm ICT by IANS ( Leave a comment )
Mumbai, June 17 (IANS) Commercial vehicles manufacturer Ashok Leyland (AL) Tuesday said the company would invest around Rs.30 billion ($714.3 million) in the next three years for its capacity expansion. On the sidelines of an equity analysts’ meet here, AL chief financial officer K. Sreedharan told IANS that the company would invest Rs.14 billion in its Uttarakhand plant to expand its capacity.
The company intends to raise Rs.10 billion through debt and other sources in 2009-10.
“We are yet to take a decision on the mode of raising the fund,” Sreedharan said.
AL plans to increase the production capacity from 84,000 to 184,000 in next three years.
AL managing director R. Seshasayee said despite economic meltdown coupled with steel and oil price hike, commercial vehicle segment had seen a robust growth.
According to him, the demand for buses will go up as many people will depend on public transporting due to high oil prices.
Talking about the company’s joint venture with Nissan, he said light commercial vehicle would start rolling out by 2010.
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- Ashok Leyland Nissan rolls out Dost light commercial vehicle - Jul 22, 2011
- Ashok Leyland launches 10 tippers and trailer models - Nov 02, 2010
- Ashok Leyland to use Nissan-Renault's Chennai facility - May 15, 2009
- Ashok Leyland-Nissan truck to hit the road mid-2010 - Aug 28, 2009
- Ashok Leyland to invest Rs.1,000 crore on operations - May 20, 2011
- Nissan to invest $1.4 bn in new plant in Brazil - Oct 07, 2011
- Ashok Leyland cuts capex by Rs.13 bn, floats finance arm - Feb 13, 2009
- Ashok Leyland may get into car manufacturing with Nissan - Mar 04, 2010
Tags: ashok leyland, buses, capacity expansion, chief financial officer, commercial vehicle segment, commercial vehicles, economic meltdown, equity analysts, joint venture, managing director, nissan, oil price hike, oil prices, robust growth, sidelines, vehicles manufacturer
