ACE bags contract to develop assembly plant at $24.98 mn

22 Jun 2022 CW Team

The company has secured the contract through a credit agreement between the Government of The Republic of Ghana and Export-Import (EXIM) Bank of India.

The project will be wholly-owned and operated by the Government of The Republic of Ghana.

The project work includes designing, engineering, and commissioning the assembly lines and supplying plant and machinery for the manufacturing unit, including transferring the technical know-how, establishing best-in-class manufacturing processes and best quality control systems, and training engineers and technicians from the Government of The Republic of Ghana for future operations.

The assembly manufacturing facility will be designed for an installed capacity of 4,500 tractors, 600 backhoe loaders, 6,000 agricultural implements and 3,000 tipping trailers per year.

Additionally, the contract includes supplying an initial pilot lot of tractors, backhoe loaders and agricultural implements in completely knocked down (CKD) form for manufacturing.

After commissioning the plant, the prices for the CKD kits shall be applicable according to the prevailing market rates during supply.

After completion, the project will play a vital role in the export markets in the African continent region for the products and augment the company's global efforts.

ACE will deliver the state-of-the-art assembly plant and strengthen the vision of the Government of moving forward with the Make in India and Make for the World goals.

Image Source

Also read: S Agarwal of ACE: We plan to double our production capacity

Under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligation and Disclosure Requirements Regulations 2015, Action Construction Equipment Limited (ACE) has been awarded with a contract to set up an assembly plant for manufacturing tractors, backhoe loaders and fabrication of agricultural implements for the Government of The Republic of Ghana at $24.98 million. The company has secured the contract through a credit agreement between the Government of The Republic of Ghana and Export-Import (EXIM) Bank of India. The project will be wholly-owned and operated by the Government of The Republic of Ghana. The project work includes designing, engineering, and commissioning the assembly lines and supplying plant and machinery for the manufacturing unit, including transferring the technical know-how, establishing best-in-class manufacturing processes and best quality control systems, and training engineers and technicians from the Government of The Republic of Ghana for future operations. The assembly manufacturing facility will be designed for an installed capacity of 4,500 tractors, 600 backhoe loaders, 6,000 agricultural implements and 3,000 tipping trailers per year. Additionally, the contract includes supplying an initial pilot lot of tractors, backhoe loaders and agricultural implements in completely knocked down (CKD) form for manufacturing. After commissioning the plant, the prices for the CKD kits shall be applicable according to the prevailing market rates during supply. After completion, the project will play a vital role in the export markets in the African continent region for the products and augment the company's global efforts. ACE will deliver the state-of-the-art assembly plant and strengthen the vision of the Government of moving forward with the Make in India and Make for the World goals. Image Source Also read: S Agarwal of ACE: We plan to double our production capacity

Infrastructure Urban

03 Apr 2026

Centre Disburses Over Rs 24,610 mn in XV Finance Commission Grants

The Union Government has released XV Finance Commission tied grants during the financial year 2025–26 to rural local bodies in Chhattisgarh, Gujarat, Madhya Pradesh, Punjab and Sikkim and has released withheld portions of tied and untied grants to Himachal Pradesh, Odisha and Tripura. The total disbursal exceeded Rs 24,610 mn, with figures expressed in million (mn) thereafter. The releases cover allocations pertaining to different financial years and aim to strengthen rural local governance. State-wise disbursements included Rs 3,324.6 mn for Punjab, Rs 9,432.7 mn for Madhya Pradesh, Rs 3,47..

Infrastructure Urban

03 Apr 2026

Centre Releases Over Rs 15 bn as XV FC Grants to Rural Bodies

The Union Government has released over Rs 15 bn in grants recommended by the Fifteenth Finance Commission (XV FC) to strengthen Panchayati Raj Institutions (PRIs) and Rural Local Bodies (RLBs) in six states. The funds comprise tied and untied grants disbursed in FY 2025–26. Telangana received Rs 2.48 bn as the first instalment of untied grants for FY 2025–26, benefitting 12600 Gram Panchayats (GPs). Uttarakhand received Rs 913.1 mn as the second instalment and an additional Rs 18.4 mn of a withheld first instalment was released to a further 216 GPs. Mizoram is included among beneficiary st..

Infrastructure Energy

03 Apr 2026

Government Assures Fuel Supplies And Seafarer Safety Amid West Asia Developments

The Government of India has stepped up coordinated measures to maintain stability in critical sectors as developments in West Asia continue to unfold. It has prioritised uninterrupted energy supplies, safeguarded maritime operations and extended consular assistance to nationals. Central authorities are working with State and Union territory administrations to ensure timely information dissemination and operational continuity. Refineries are reported to be operating at high capacity with adequate inventories of petrol and diesel, and domestic LPG production has been increased to support consump..