Dhaka: A Memorandum of Understanding (MoU) has been signed between Ifad Autos and Ashok Leyland of India on the assembly of Ashok Leyland vehicles in Bangladesh.

Managing director of Ifad Autos Taskin Ahmed and Ashok Leyland’s managing director Vinod Dasari signed the MoU on behalf of their respective organisation in Chennai of India recently, said a press release on Wednesday.

Under the MoU, some 4,000 vehicles will be assembled in the factory of Ifad Autos in Bangladesh every year and the number will increase in phases.