Ashok Leyland enters agreement with Sri Lankan Transport Board

18 Jan 2023 , 01:52 PM

Ashok Leyland, an Indian heavy commercial vehicle manufacturer, announced that it has received an order from the Sri Lankan Transport Board to supply 500 buses.

The Sri Lanka Transport Board is the island’s largest state-owned bus transport provider, with 110 depots spread across the country. It operates buses on city routes, hilly and rural routes, and long-distance inter-city routes.

As part of the SLTB order, the Hinduja Group flagship company delivered 75 buses to the neighbouring country, according to a statement. The order was part of a Line of Credit extended by the Export-Import Bank of India under the Indian government’s Economic Assistance Scheme.

The Sri Lankan Transport Board operates in a variety of routes and conditions, and the new Ashok Leyland buses are best suited for rural routes.

According to the company, Indian High Commissioner, Sri Lanka Gopal Baglay recently handed over the first set of buses to the Sri Lanka Minister of Transport and Highways Affairs Bandula Gunawardana at an event in Colombo.

At around 1.35 PM, Ashok Leyland was trading 0.48% higher at Rs147.55, against the previous close of Rs146.85 on NSE. The counter touched an intraday high and low of Rs147.85 and Rs146.20 respectively.

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