Rigid Tyre Corp to build Sri Lanka’s largest tyre plant

Rigid Tyre Corp to build Sri Lanka’s largest tyre plant

Rigid Tyre Corporation (Pvt) Ltd , a ventures of by UAE-based Sri Lankan businessman Nanda Lokuwithana, who is the Chairman of Ceylon Steel Corporation and its member company MA Steel Lanka (Pvt.) Ltd, will build the largest full integrated tyre manufacturing plant in Sri Lanka. The lay foundation ceremony is scheduled to take place January 5,2016

The plant will be built at Horana with an investment of Rs11.25 billion and produce a whole gamut of products from radials for light and heavy vehicles to off-the-road (OTH) tyres. Leading tyre manufacturing related technology provider Marangoni is the technology partner in the project. the venture is expected to generate over 3,000 job opportunities, both direct and indirect and the tyre plant.

In addition to tyre manufacturing, the venture expects to manufacture high density conveyor belts, targeting the global mining industry. Similarly, high pressure hydraulic pipes will also be manufactured to cater to the demand originating from the oil industry. Apart from the tyre manufacturing plant, the project, which will be located on a 100-acre land, will also have a four-storeyed ultra-modern research lab to advance research and development. The foundation laying for the project will be carried out by Prime Minister Ranil Wickremesinghe during grand event that will be attended over 1500 invitees including ministers and public officials, the company said.

 

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