In a significant move to enhance accessibility to construction machinery, Action Construction Equipment Ltd (ACE), a leading player in India’s construction equipment sector, has entered into a strategic partnership with Bank of Baroda. This collaboration, formalized through a Memorandum of Understanding (MoU), aims to provide tailored financing solutions to ACE’s clientele across India, thereby bolstering the growth prospects of both entities in the construction industry.
The MoU signing event was marked by the presence of key figures from both organizations. Representing ACE was Manish Handa, Vice President & Business Head of Earthmoving Equipment Division, while Dhrubashish Bhattacharya, Head of MSME & Co-Lending, stood for Bank of Baroda. This partnership is set to offer comprehensive financial support to construction businesses, empowering local entrepreneurs and startups with the necessary capital to thrive in a competitive market.
Under this agreement, customers nationwide will benefit from the customized financial options now available through Bank of Baroda, enhancing the purchase accessibility of ACE’s diverse construction equipment range. This includes highly demanded machinery such as Backhoe Loaders, Front End Loaders, various Cranes, Graders, Compactors, and Forklifts. Mr. Handa expressed optimism about the MoU, noting that it will expand financing options across the country, thereby facilitating business growth for both ACE and Bank of Baroda.
Founded in 1995 by Vijay Agarwal, a technocrat with over 50 years in the industry, Action Construction Equipment Limited has grown to become a major name in multiple sectors such as Construction, Infrastructure, Manufacturing, Logistics, and Agriculture. Notably, ACE is recognized as the world’s largest manufacturer of Pick & Carry cranes, holding a dominant market share of 63% in the Mobile Cranes segment and over 60% in the Tower Cranes segment in India. This partnership with Bank of Baroda is expected to further solidify ACE’s commitment to meeting the evolving needs of the construction industry and enhancing customer satisfaction through innovative financial solutions.
