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President Gotabaya Rajapaksa inspecting the tyres at the Ferentino factory located on a 155-acre land belonging to the BOI Industrial Zone[/caption]
Recently opened Ferentino Tyre Corporation will export its first stock of production to the US this month, according to the company.
With a first phase investment of $ 100 million, South Asia’s largest tyre and radiator tyre manufacturing factory Ferentino, was opened last week at the Board of Investment (BOI) Industrial Zone in Wagawatta, Horana.
President Gotabaya Rajapaksa declared open the factory which has been set up on a 155-acre land belonging to the BOI Industrial Zone. According to the management of the factory, manufacturing will be carried out using European technology and state-of-the-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 20% will be supplied to the local market.
Promotion of the export market potential of this country, generating a large number of direct and indirect employment opportunities, and the ability for local rubber producers to obtain a higher price are some of the benefits of the factory.
“The management of the factory has taken measures to recruit qualified women to fill the vacancies for technical positions, beating adopted standards in the industrial sector. The factory is an eco-friendly entity,” the management noted.
The second phase of the project is expected to be completed by March 2021.
PHOTO SAMAN ABESIRIWARDANA
President Gotabaya Rajapaksa inspecting the tyres at the Ferentino factory located on a 155-acre land belonging to the BOI Industrial Zone[/caption]
Recently opened Ferentino Tyre Corporation will export its first stock of production to the US this month, according to the company.
With a first phase investment of $ 100 million, South Asia’s largest tyre and radiator tyre manufacturing factory Ferentino, was opened last week at the Board of Investment (BOI) Industrial Zone in Wagawatta, Horana.
President Gotabaya Rajapaksa declared open the factory which has been set up on a 155-acre land belonging to the BOI Industrial Zone. According to the management of the factory, manufacturing will be carried out using European technology and state-of-the-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 20% will be supplied to the local market.
Promotion of the export market potential of this country, generating a large number of direct and indirect employment opportunities, and the ability for local rubber producers to obtain a higher price are some of the benefits of the factory.
“The management of the factory has taken measures to recruit qualified women to fill the vacancies for technical positions, beating adopted standards in the industrial sector. The factory is an eco-friendly entity,” the management noted.
The second phase of the project is expected to be completed by March 2021.
PHOTO SAMAN ABESIRIWARDANA