Moneycontrol Bureau
India's second largest commercial vehicle maker Ashok Leyland has secured an order from Bangladesh Road Transport Corp (BRTC) to supply 50 vestibule buses under the Indian line of credit scheme offered to improve urban transportation in that country.
The order is worth USD 6 million and is the company's first order for such buses overseas, Ashok Leyland said on Wednesday. An agreement for the bus supply was signed between BRTC chairman and Antony Lobo, Ashok Leyland's special director - international operations last week, it said.
Over the years, Ashok Leyland has exported over 9,500 vehicles (different models) to Bangladesh through their sole dealer Ifad Autos, the company said.
Last year, it had received USD 23.3 million order to supply 290 double-decker buses in that country.
Ashok Leyland shares rose post the announcement and at 11:50 hrs were up 2.8% at Rs 26.05 on NSE.
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