Tata Motors has entered into an agreement with Apex Greatest Industrial Co Ltd. (AGI), Myanmar, for the distribution of Tata Motors’ commercial vehicles and passenger cars in Myanmar.
The purchase & sale agreement was signed on May 26, at Myanmar’s capital city of Nay Pyi Taw, by Mr. R. T. Wasan, Head – International Business (Commercial Vehicles) and Mr. Johnny Oommen, Head – International Business (Passenger Vehicles), on behalf of Tata Motors, and the Chairman of AGI Myanmar, Mr. U Kyi Thein.
In March 2010, Tata Motors had signed a turnkey contract with Myanma Automobile & Diesel Industries Limited (MADI), an enterprise under the Government of Myanmar’s Ministry of Industry-2, for setting up a heavy truck assembly plant, at Magwe, in central Myanmar, funded by a US$ 20 million Line of Credit from the Government of India. The plant, inaugurated in December 2010, is now operational.
With a highly flexible chassis & frame assembly line, along with cab manufacturing, paint shop and trimming set-up, the plant has a capacity of producing 1,000 vehicles per annum initially and has the flexibility of augmenting up to 5,000 per year.