GRI to expand tyre production with new manufacturing facility
Local tyre manufacturer GRI announced that it recently laid the foundation stone for the second phase of a $ 100 million project, with a new manufacturing facility in Badalgama, Sri Lanka to expand its specialty tyre production capabilities to meet the growing global demand for its products.
In January 2018, GRI inaugurated a world-class specialty tyre manufacturing facility with an investment of more than $ 40 million. The new factory is an expansion of this facility, and is expected to be completed by December 2021.
This new factory is the next phase of GRI’s rapid expansion currently underway, including the new mixing facility, and will bring up the overall investment to a total of $ 100 million.
GRI Managing Director Prabhash Subasinghe explained that the new manufacturing facility is part of the company’s long-term vision and growth drive.
“GRI’s expansion and increase in our production capacity, in such a short time frame, is a result of the overwhelming demand for our GRI-branded products in recent years. It has been rewarding to see how our products have been so well received in an extremely competitive market, and lauded for their superlative quality, service, and innovation – we are well-positioned to carve a niche for Sri Lankan specialty tyres in the world market,” observed Subasinghe.
GRI stated it has been a formidable force in enhancing exports of Sri Lanka since 2002. The company has been consistently adding new products to the country’s export range of specialty tyres. Over the years, GRI has supported the Government’s efforts and vision to drive the country’s export industry to the next level.
“The new manufacturing facility will be equipped with state-of-the-art machinery, and is set to quadruple GRI’s current production capacity, bringing it to 750,000 tyres per year and a total capacity of 100 tonnes per day. The new factory will focus on agriculture tyres with a large share dedicated for advanced radial agriculture tyres. GRI is the only manufacturer in Sri Lanka with radial agriculture manufacturing capability. We will also be increasing employment by 100%, and build the GRI team to 500 factory employees through this expansion; covering production, engineering, quality assurance, advanced technology, research and development,” said GRI Chief Executive Officer (CEO) Mahesha Ranasoma.
In 2018, GRI opened an advanced manufacturing plant in Sri Lanka to produce agricultural tyres. In 2020, GRI also commenced construction of a new mixing facility in the Mirigama Export Processing Zone in Sri Lanka.