The country’s largest vehicle maker Tata Motors has signed a vehicle distribution agreement with Myanmar based Apex Greatest Industrial Co Ltd. for catering the sales of its commercial vehicles as well as passenger cars in the Myanmar.
As per a recent statement given by a company spokesman, AGI will be handling the distribution of the trucks, following their assembling at the Tata Motors’ Magwe facility. The Indian auto giant had established an assembling facility in Magwe on behalf of the government of Myanmar. Besides assembling vehicles there, the company also imports commercial vehicles and passenger cars from the Indian market as a CBU (Completely Built Unit).
The agreement was signed by Mr. R T Wasan (Tata Motors Head - International Business for commercial vehicles) and Mr. Johnny Oommen, (Tata Motors Head - International Business Passenger Vehicles). On behalf of AGI, Chairman of AGI Myanmar U Kyi Thein signed the agreement.
About two years back in March 2010, Tata Motors had signed a turnkey contract with state-owned Myanmar Automobile & Diesel Industries Ltd (MADI) to set-up an assembly plant at Magwe to assemble heavy trucks. The government of India had funded this plant by a USD 20 million Line of Credit.
