Hinduja Group, the globally renowned business house, has entered into a strategic partnership with the multibillion regional conglomerate, Stallion Group, for a wide range of activities in Nigeria and sub-Sahara Africa.
The Hinduja Group is promoted by India’s richest Hinduja family, engaged in diversified activities including automotive, oil and gas, power and healthcare.
The Stallion Group is an international conglomerate with a presence in 18 countries engaged in agriculture, commodities, vehicle assembly, steel manufacturing, plastics, packaging, food products, real estate and other large scale industries.
Stallion is already assembling Hinduja’s Ashok Leyland range of buses in Nigeria that are plying Nigerian roads successfully.
The partners intend to expand their model range from two at present to a full range of 12 models.
Notable additions will include Ashok Leyland’s new models like Captain, Dost, Boss and several others.
These models will be assembled for the Nigerian market at Stallion’s ultra modern factory in Lagos.
The factory will also assemble military and defence products, including Ashok Leyland’s established models in this segment.
The partnership was finalised in Davos, on the sidelines of the World Economic Forum by Hinduja Group’s Co-Chairman, G.P. Hinduja, and Stallion Group’s Chairman, Sunil Vaswani.
Present with his delegation at the World Economic Forum, Nigerian President Jonathan reiterated his determination to push ahead with the new automotive policy.
Jonathan was hopeful that significant investments would flow into the auto industry in Nigeria, pursuant to the progressive policy initiatives.
The announcement of the Hinduja-Stallion partnership seems to be a timely investment that will act as a major catalyst for the success of the policy.