BackTata Motors inks pact for vehicle distribution in Myanmar
Tata Motors inks pact for vehicle distribution in Myanmar
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Mumbai: Tata Motors Ltd, India’s largest vehicle maker, has entered into an agreement with Myanmar’s Apex Greatest Industrial Co. Ltd. (AGI) for distribution of the Indian company’s commercial vehicles and passenger cars in the South East Asian nation, Tata Motors said in a statement.
In March 2010, Tata Motors had signed a contract with state-owned Myanmar Automobile and Diesel Industries Ltd to build a heavy truck assembly plant at Magwe. It was funded by a $20 million line of credit from the Indian government. The plant, inaugurated in December 2010, is now operational.
The factory has a capacity of producing 1,000 vehicles a year, which can be increased to as many as 5,000 per year.
shally.s@livemint.com
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