Sri Lankan President Gotabaya Rajapaksa has inaugurated South Asia’s largest tyre and radial tyre plant in Horana, in Sri Lanka’s Western Province.
Ferentino Tire Corporation- Private Limited’s factory is sited on a 155-acre land that is owned by the Board of Investments’ Industrial Zone in Wagawatta. The factory, constructed with an investment of US$250 million, is expected to produce 2.4 million tyres annually. Manufacturing will be carried out using European technology and state of the art equipment, according to reports.
The special tyres will be manufactured for SUVs. The Horana plant, which will also roll out tyres for cars, bicycles and three-wheelers for the global market, will allocate 80% of the production for export and the remaining 20% for the domestic market.