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EQUIPMENT TICKER TAPE Federal Bank at competitive interest rates for purchasing a wide

range of world-class equipment from the product line of JCB India
Ltd. Speaking at the Occasion of signing this MoU, Deepak Shetty,
CEO and Managing Director of JCB India said: “We are delighted
to have signed this memorandum of understanding with Federal
Bank for the financing of JCB machines for our customers. With
the Government’s focus on infrastructure development continuing
to remain strong, there will be various opportunities to create
synergies between the teams from JCB India and Federal Bank.
Importantly, it will give greater financing options to our customers
while purchasing JCB machines both in Urban and Rural India.”
JCB is committed to giving the best solutions for equipment
financing to its customers. The teams will be working together to
FEDERAL BANK PARTNERS WITH JCB INDIA FOR give innovative financing solution to its customers.
EQUIPMENT FINANCING During the occasion, Shyam Srinivasan, Managing Director
Federal Bank signed a Memorandum of Understanding (MOU) and CEO, Federal Bank said, “Today, we officially become the
with JCB India, a leading manufacturer of Earthmoving and financing partner for JCB India. This partnership would prove to
Construction equipment recently. This arrangement will boost the be hugely beneficial to a segment of customers who are looking
financing options for JCB’s customers in India. for easy finance options to take their business forward. We are
As per the arrangement, Federal Bank is the preferred finance confident this association will help remove barriers between Bharat
partner of JCB, where JCB’s customers can avail loans from and Atmanirbhar Bharat.”

ASHOK LEYLAND DELIVERS 150 VEHICLES TO TANZANIAN Buses, 4X4 Police Troop Carriers, Ambulances, Recovery trucks and
POLICE FORCE other logistic vehicles for Police support services.
Ashok Leyland, the flagship Company of the Hinduja Group and The Deputy Minister, Jumanne Abdallah Sagini thanked the
India’s leading commercial vehicle manufacturer delivered 150 Indian government and Ashok Leyland for delivering the vehicles
trucks and buses to the Tanzania Police Force. The vehicles were to Tanzanian Police Force and said “India has always been a
handed over by H.E. Binaya S. Pradhan, Indian High Commissioner, valuable partner in the growth of Tanzania, and we will continue
Tanzania and Amandeep Singh, President, Ashok Leyland to working together for the mutual benefit of the two countries.”
the Ministry of Home Affairs at the Police Head Quarters, Dar Es Speaking on this occasion, H.E. Binaya S. Pradhan, Honourable
Salaam. On behalf of the Minister of Home Affairs, Hon. Deputy Indian Ambassador said, “India and Tanzania are two of the
Minister of the Ministry of Home Affairs– Jumanne Abdallah Sagini, oldest friends with over 60 years of association. Tanzania is India’s
received the vehicles in the presence of other delegates present biggest development partner in the African continent, with more
from the police force. than $ 1.1 Bn of line of credit, and a duty-free trade scheme
The supplies are a part of contract signed between Ashok Leyland encouraging trade between the countries.”
and the Ministry of Home Affairs, Tanzania, and financed through Amandeep Singh, President, Ashok Leyland expressing sincere
a long term soft loan extended by Export Import Bank of India, gratitude to the Hon’ble Indian High Commissioner for facilitating
Government of India. The vehicles delivered included Police Staff this funding from India and the support provided for the execution
of the project said, “It reflects our
commitment to support Government of
Tanzania and we deeply value our long-
standing relation. These 150 vehicles
will get added to the 475 Ashok Leyland
vehicles which are already in operation
with the Tanzanian Police Force across
the country”.
Amandeep Singh also praised the
Tanzanian government for their trust in
Ashok Leyland as logistic partners, and
wished to strengthen the partnership.
The Tanzania Police Force currently has a
fleet of 625 Ashok Leyland vehicles and
further vehicles are planned for delivery
in the coming months. This is expected
to boost the overall efficiency of the
Police Force thereby ensuring safety and
security of the public all over the country.

40 CONSTRUCTION OPPORTUNITIES|DECEMBER 2022