President declares open South Asia's largest tyre manufacturing factory – Lanka Business Online
President Gotabaya Rajapaksa declared open Ferentino Tire Corporation- PVT Ltd, largest tyre and radiator tyre manufacturing factory in South Asia today (14). The factory has been set up on a 155-acre land belongs to BOI Industrial Zone in Wagawatta, Horana. Investment of the first phase is USD 100 million. Manufacturing will be carried out using European technology and state-of-art equipment. Special tyres will be manufactured for SUVs while catering to the demand in the world market for tyres for cars, bicycles and three-wheelers. 80% of the production will be exported and the remaining 2...
Source: lankabusinessonline.com