Tata Motors enters into distribution agreement in Myanmar
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.