Ashok Leyland commits Rs 300 crore investment this fiscal

Company plans to set up 3 bus assembling facilities in India and overseas

Automotive major Ashok Leyland said it would make around Rs 300 crore investment during the current financial year.

The company is also planning to set up three bus assembling facilities in India and overseas, each attract an investment of Rs 20 crore.

Vinod K Dasari, managing director, Ashok Leyland, said in the last three-four years the company had invested significantly, and added for the next 2-3 years no major investments had been lined up.

“We would be investing around Rs 100-150 crore as capital expenditure and a similar amount would be investments in the joint ventures,” said Dasari.

The company is also planning to set up bus assembly plants in Africa, West Asia and one in India.

Gopal Mahadevan, chief financial officer, Ashok Leyland said that this would help the company to save logistics cost and the company would be shipping out the bus kits to the assembly plants overseas so as to be near the market.

The assembly plant would attract investment of around Rs 20 crore each.

Mahadevan said pay back in these projects will be faster.