Work in Rs.11bn tire manufacturing plant to start this week
Tire Rigid Foundation (Pvt.) Ltd., which will become the fully integrated tire manufacturing facility in Sri Lanka with an investment of Rs.11.25 billion, will take place on Thursday (January 5), a press release from the company said. The plant will be located in the industrial zone of Wagawatta, Horana, Sri Lanka is a business entrepreneur Lokuwithana Nanda, who is president of Ceylan Steel Corporation and its member company, MA Steel Lanka (Pvt. He is also the President of Onyx Group based in the United Arab Emirates and owner of Marriot Hotel Al Jadaf, Dubai. The company's statement said Marangoni in Italy, a leading supplier of technologies related to tire manufacturing, would be the technology partner of the project. He also noted that the tires would take rigid products labeled "licensed by Marangoni." Meanwhile, the company is expected to generate more than 3,000 direct and indirect job opportunities and tire factory will manufacture a range Products for light and heavy radial off-road (OTH) tires. In addition to tire manufacturing, the company plans to manufacture high-density conveyors for the global mining industry. Hydraulic high pressure were also manufactured to meet the demand caused by the petroleum industry.Outside the tire manufacturing plant, the project will be located in an area of 100 acres, you will also have a four-storey research Ultra-modern laboratory to advance research and development.The project foundation will be realized by Ranil Wickremesinghe Prime Minister during the big event that will be attended by more than 1,500 guests, including ministers and officials, the company said.