Ashok Leyland to cut debt by 50% in 3 years, plans assembly plants abroad

Ashok Leyland (ALL) on Friday said it will bring down total debt by half over the next three years — from Rs 4,000 crore as of December 2014 to Rs 2,000 crore. Buoyed by the success of its assembly plant in Ras Al Khaimah (UAE) over the last few years, the company will set up 4-5 such plants abroad, including in the Middle East and Africa, and it hopes to end the fiscal with better-than-present-industry growth.

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