Sri Lankan tyre firm Global Rubber Industries (GRI) says it has completed the second phase of its US$100 million capacity upgrade plan for its speciality tyre facility, which is sited next to its more established plant in Sri Lanka.
With Phase 2 completed, GRI says production capacity will be increased by almost 100% from its present capacity, to provide an output of 60 tonnes/day. The company will support the increase in demand for its agriculture tyres product that was launched in 2018 across key markets primarily targeting the US, Europe and Australia.
The aim is to enhance GRI’s current production capacity to 750,000 tyres/year or a total capacity of 100 tonnes/day, which entails Phase 3 of the expansion project and is currently underway. Once completed, the entire facility will span an area of 220,000 sq ft.
The 60-tonne/day capacity in Phase 2 span an area of 175,000 sq ft. This expansion, which commenced in 2021, includes the addition of eight new tyre building machines and 17 tyre curing presses, the use of technology for real-time decision-making and machine optimisation, and a constant focus on R&D enhancement of physical infrastructure in the factory premises.
When all three phases are complete, the entire expansion is expected generate a total of more than 500 new employment opportunities.
Dr. Mahesha Ranasoma, CEO of GRI, said, “We are proud to have received such encouraging levels of customer acceptance for our radial as well as bias agriculture tyres, which we present to the international markets we operate in as our Green XLR and Green EX brands. As a result of this expansion, we are now able to double our current volumes and provide our customers the opportunity to grow their businesses. We are also happy to be serving Sri Lanka by creating employment opportunities through this expansion while generating much needed foreign earnings and export revenues for the country.”
Founded in 2002, the company produces material handling solid tyres, radial agriculture tyres and construction tyres. GRI has operations in nine countries, and a business presence in more than 50 countries worldwide. Since 2018, GRI has been advancing in the rapid expansion of its specialty tyre production plants and tyre compound mixing facilities in Sri Lanka as well as its operations in key countries.