TATA Motors to make trucks in Burma

http://www.mizzima.com/news/inside-burma/1902-tata-motors-to-make-trucks-in-burma.html

by Salai Pi Pi
Friday, 27 March 2009 17:52

New Delhi (Mizzima) – India’s leading automaker TATA Motors on Thursday met Burmese Minister of Energy (2) Vice-Admiral Soe Thein, and held parleys on setting up a truck manufacturing unit in Burma, the state-run media said.

The New Light of Myanmar, Burma’s official newspaper, on Friday reported that Mr. Manas Kumar Mishra of TATA Motors Ltd. on Thursday met Soe Thein in Naypyitaw, Burma’s new jungle capital and discussed setting up a truck manufacturing unit in Burma.

“Both sides discussed the speedy implementation of a heavy turbo truck assembly and component parts production factory project and starting manufacturing operations from December 2009,” the paper said.

A document of India’s Ministry of External Affairs (MEA), which is in Mizzima’s possession said the project is part of India’s “Look East Policy”, which includes setting up several bilateral development projects such as construction of roads, power projects, oil refinery units, transmission lines, telecommunications, and Information technology services in Burma, by India.



The MEA said India has sanctioned a USD20 million Line of Credit (LoC) for setting up a truck manufacturing unit to be taken up by TATA Motors.

Since the formal launch of the “Look East Policy” in 1994, India has engaged Burma in areas of trade and development and has maintained regular exchange of high-level officials visits.

India’s Vice-President M. Hamid Ansari last month, paid a four-day visit to Burma, during which the two countries signed a Memorandum of Understanding (MoU) on setting up a Industrial Training Centre and a Centre for English Language Training (CELT).

According to the MEA, bilateral trade between India and Burma for the fiscal year 2007-08 stood at USD 901.3 million. For the same fiscal year, Burma’s export to India was USD 7272.85 million, while India’s export was USD 173.46 million.

TATA Motors Ltd is the world’s fourth largest truck manufacturer and second largest bus manufacturer.

Edited by Mungpi