TATA begins vehicle assembly in Nigeria Q3 2015 with initial investment of $8m by IPI
Tata Motors, India’s largest commercial automobile company, has joined other Original Equipment Manufacturers (OEMs) with interest in setting up automotive assembly plant in Nigeria.
Tata will be partnering Iron Products and Industries (IPI) Limited that will fund the investment to the tune of $8 million on equipment and other machinery to assemble the Tata Zenon range of Pick-up trucks in Lagos, Nigeria’s commercial capital.
Target date will be towards the last quarter of 2015, BusinessDay learnt.
Breaking this news last Tuesday in Mumbai, India, since the introduction of the automotive policy by the Federal Government in 2013, Ravi Pisharody, executive director, commercial vehicles, Tata Motors Limited, said the automaker was going into partnership with IPI to assemble Tata Pick-up trucks under the SKD I and II automotive assembly regimes at various stages of development. IPI is a local automotive component manufacturer, including steel and aluminium plant.
According to Ravi Pisharody, “Tata definitely have assembly plans for Nigeria. For us, it is one of the focussed markets within Africa as well. We have plans to invest in assembly capacity and we are now at the finance and final stages of when the operations will kick off, but we are seriously looking at taking off.
“We already have IPI our distributor partner and shall be sharing its existing facility with plans to supply SKD assembly kits that will match global industry standards.”
At the ongoing Africa’s media tour of Tata Group establishments by journalists from South Africa, Tanzania, Kenya, including BusinessDay in Mumbai, Pune, Hyderabad and Bangalore in India, Girish Wagh, senior vice president in charge of programme planning and project management for Tata Motors Limited, said Tata Motors was very optimistic of an increased market share in Nigeria automotive market space, put at 15 percent.
On quality, A K Jindal, head of engineering commercial vehicles, engineering research centre at the Tata assembly plant in Pune, said the same standard of vehicles produced in different parts of the world by the company would be replicated in Nigeria.
Source : http://businessdayonline.com/
Posted on : 07 Jun,2023 | News Source : ABNews
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