Construction of fully-integrated tyre plant nears completion
View(s):One of the largest fully-integrated tyre manufacturing plants in the Southeast Asian region is nearing completion in the developing township of Horana.
Tyre plant under construction.
It underlines the aim of Rigid Tyres Corporation Pvt Ltd in strengthening the company’s position in the Sri Lankan automotive market as well as its overall plans for global expansion, a top official of the company said.
The state-of-the-art Rigid Tyre manufacturing plant is set to open in 2020 with commercial tyre production to follow thereafter.
Rigid Tyre Corporation (Pvt) Ltd is the newest venture of UAE-based Sri Lankan businessman Nandana Lokuwithana. He is also the Chairman of Ceylon Steel Corporation and its member company MA Steel Lanka (Pvt.) Ltd.
The plant is being built at a 100-acre land at the Board of Investments (BOI) Industrial Zone in Wagawatte, Horana with an investment of Rs.11.25 billion, he revealed.
A four-storied ultra-modern research lab to advance research and development is also under construction.
The tyre factory will be producing a whole range of products from radials for light and heavy vehicles to off-the-road (OTR) tyres.
Passenger car tyres along with the industrial range of tyres will be manufactured for European and other international markets, he added.
In addition to tyre manufacturing, it will produce high density conveyor belts, targeting the global mining industry.
High pressure hydraulic pipes will also be manufactured to cater to the demand in the oil industry.
This venture is to create over 3,000 job opportunities, both direct and indirect at the tyre plant.
The project will adhere to all environmental protection measures and it has obtained environmental approval from the Central Environmental Authority (CEA) by conducting an Environmental Impact Assessment (EIA), a BOI official said.
The company complies with the national environment requirements by introducing advanced environmentally-friendly technology, he added.
(BS)