Mahindra & Mahindra told Indian media it will form a joint venture with Sri Lanka's Ideal Motors to assemble vehicles in the country.
The company will hold 35 per cent of the share capital in the joint venture(JV), with the remaining proposed to be held by Ideal or any of its affiliates, M&M said in a regulatory filing.
The new company will be formed for the purpose of assembly of vehicles in Sri Lanka and M&M's investment will not be more than 250 million Sri Lankan Rupees but subject to requisite RBI approvals, it added.
The company, however, did not elaborate what type of vehicles would be assembled through the new joint venture, the Economic Times reported.
My acquittance with Chula goes back to 1976, 77 where Ananda Under 15 Soccer practices had in Cambel place, Chula was a brilliant mid fielder could kick the ball from both legs
Former Speaker and NPP MP Asoka Ranwala was arrested today following a road accident in the Denimulla area of Sapugaskanda last night, police said.
President Anura Kumara Dissaayake today announced a relief package for persons, including school children affected by the devastating landslides and floods.
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