South and Southeast Asia’s largest tyre manufacturing factory – the Ferentino Tyre Corporation factory – has been declared open by President Gotabaya Rajapaksa at Horana today (January 14).

It spans across 60 acres at Wagawatta Export Processing Zone in Horana.

The tyre factory, set up with investment of USD 250 million, is the brainchild of the Chairman of Ceylon Steel Corporation Pvt. Ltd. Mr Nandanan Lokuwithana.

The foundation stone for the facility was laid 2017.

The factory will be manufacturing special tyres for SUVs, motorcycles, three-wheelers and trucks, as well as solid tyres.

Manufacturing process will be spearheaded by local talent with the use of sophisticated European technology.

The facility intends to use locally-sourced rubber as its main raw material.

The first phase of the project has already been completed, with production schedule to begin soon. Meanwhile, the phase two is expected to be completed by March 2022.

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