South Asia’s largest tyre factory in Horana

South Asia’s largest tyre factory in Horana

South Asia’s largest tyre factory in Horana

Written by Staff Writer

14 Jan, 2021 | 8:10 pm

COLOMBO (News1st): South Asia’s largest tyre factory was declared open in Horana by President Gotabaya Rajapaksa on Thursday.

The state-of-the-art has been constructed across a land area spanning 155 acres in the Investment Processing Zone in Wagawatte, Horana.

An investment of USD 100 million had been used for the first phase of the construction of the project.

At least 80 percent of the products manufactured at the factory will be exported while 20 percent of the products will be sold in the local market.

“The President discussed this project with me on multiple occasions,” Nandana Lokuwithana, the factory chairman said at an event.

He pointed out that the pressure exerted by the President had paved the way for construction to be completed swiftly amidst the COVID-19 pandemic.

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