Ashok Leyland-Nissan LCV project at ‘zero cost’

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Ashok Leyland-Nissan LCV project at ‘zero cost’

The VAT refund for 21 years for two different projects of Ashok Leyland practically means that the entire $500 million (Rs 2,200 crore) investments in the Leyland-Nissan LCV project will be given back to the investors. In a way, the project is being put up at zero cost.

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Chennai, Sept. 8:

The VAT refund for 21 years for two different projects of Ashok Leyland practically means that the entire $500 million (Rs 2,200 crore) investments in the Leyland-Nissan LCV project will be given back to the investors. In a way, the project is being put up at zero cost.

Ashok Leyland is involved in two different projects - one, the joint venture with Nissan to produce light commercial vehicles and another on its own to produce medium duty commercial vehicles.

(Incidentally, it was revealed by Ashok Leyland on Monday that the MDV project is coming up at Vallam village, a suburb of Chennai, not far from the emerging industrial area of Oragadam.)

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