A joint agreement between Tata Motors and Apex Greater Industrial Co.(AGI) Ltd was signed and sealed on May 26th in Nay Pyi Taw, Myanmar. Tata Motors have now entered into a joint agreement with the company for distribution of all Tata Motors commercial vehicles and passenger cars that will make their way into Myanmar markets.
This agreement was signed by Tata Motors Mr. R T Wasan, Head of Commercial Vehicles along with J Oommen – Head of International Business for Passenger Cars together with U Kyi Thein, President of Apex Greater Industrial Co. Ltd, Myanmar.
Tata Motors had also signed a similar agreement in March 2010 with Myanma Automobiles & Diesel Industries for setting up a plant for assembly operation of heavy trucks in Central Myanmar. This venture was funded by US$20 million and the plant is now fully functional. The plant had a capacity of 1000 vehicles in 2010, while this figure has risen to 5000 vehicles per annum today.
News release: Tata Motors enters into distribution agreement in Myanmar
Tata Motors has entered into an agreement with Apex Greatest Industrial Co Ltd. (AGI), Myanmar, for the distribution of Tata Motors’ commercial vehicles and passenger cars in Myanmar.
The purchase & sale agreement was signed on May 26, at Myanmar’s capital city of Nay Pyi Taw, by Mr. R. T. Wasan, Head – International Business (Commercial Vehicles) and Mr. Johnny Oommen, Head – International Business (Passenger Vehicles), on behalf of Tata Motors, and the Chairman of AGI Myanmar, Mr. U Kyi Thein.
In March 2010, Tata Motors had signed a turnkey contract with Myanma Automobile & Diesel Industries Limited (MADI), an enterprise under the Government of Myanmar’s Ministry of Industry-2, for setting up a heavy truck assembly plant, at Magwe, in central Myanmar, funded by a US$ 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.