South Asia’s largest tyre manufacturing factory declared open at Horana

President Gotabaya Rajapaksa declared open Ferentino Tire Corporation- PVT Ltd, largest tyre and radial tyre manufacturing factory in South Asia yesterday. The factory has been set up on 155-acre land belonging to BOI Industrial Zone in Wagawatta, Horana.

Investment of the first phase is USD 100 million. Manufacturing will be carried out using European technology and state-of-art equipment.

Special tyres will be manufactured for SUVs while catering to the demand in the world market for tyres for cars, bicycles and three-wheelers. 80% of the production will be exported and the remaining 20% will be supplied to the local market, according to the Presidential Secretariat. The first stock of production will be exported to the USA this month.

Promotion of the export market potential of this country, generating a large number of direct and indirect employment opportunities and the ability for local rubber producers to obtain a higher price are some of the benefits of the factory.

The management of the factory has taken measures to recruit qualified women to fill the vacancies for technical positions beating adopted standards in the industrial sector. The factory is an eco friendly entity.