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

Real Estate

05 Dec 2025

RBI Rate Cut Boosts Confidence Across Housing Market

Industry Context and Market DynamicsThe real estate industry has welcomed the RBI’s rate cut as a timely boost to affordability and demand. With home prices having risen steadily across major markets, even a marginal reduction in interest rates meaningfully strengthens purchasing power, especially for first-time and mid-income buyers.Ashish Jerath, President – Sales & Marketing, Smartworld Developers, observes:“The RBI’s 25-basis-point cut, bringing the repo rate down to 5.25%, is a timely boost for the real estate sector. Lower interest rates reduce borrowing costs, enabling homeb..

Infrastructure Transport

05 Dec 2025

BMC Resumes Rs 170 Billion Road Works, Targets 80 per cent By Jan 2026

Following the withdrawal of the southwest monsoon in October, the Brihanmumbai Municipal Corporation (BMC) has restarted work on 645 roads—covering 297.49 kilometres—under its large-scale concretisation programme. Data shows that more than 60 per cent of the resumed works are located in the western suburbs. Officials said the civic body aims to complete concretisation on 80 per cent of the roads where fresh work has begun by January 2026. Launched in 2022, the Rs 170 billion project seeks to concretise 700 kilometres of roads across Mumbai. All civil works were halted during the monsoon ..

Infrastructure Urban

05 Dec 2025

India Pushes Digital Shift In Urban Land Mapping

The Department of Land Resources (DoLR) under the Ministry of Rural Development has convened a National Symposium on NAKSHA – the National Geospatial Knowledge-based Land Survey of Urban Habitations – to advance India’s transition to modern, technology-driven land mapping. Speaking at the inaugural session, Secretary Manoj Joshi underscored the urgent need to move revenue departments away from outdated, tape-based methods and rough hand-drawn sketches. He stressed that adopting latitude–longitude-based digital mapping and GIS-linked registration systems is essential for economic stabi..