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  • Written on 08.11.2011 - Industry
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SRI LANKA: Starco Lanka in USD 4.4 million tyre venture

Starco Lanka (Pvt) Ltd has signed an agreement with the Board of Investment to manufacture pneumatic and solid tyres for export. The total investment for the project is USD 4.4 million and the company has pledged to create 400 employment opportunities during the next three years.

Starco Lanka Managing Director P M Susantha Perera said that they will be building a factory in the Biyagama Export Prossessing Zone within a short period to manufacture the tyres.

“So far we have received orders from Denmark and other European countries and we hope to go into production by the end of this year,” he said.

“The first phase of the project will begin early December and the total project can be completed in two to three years,” he said.

Starco Lanka is a Denmark based company and it has identified huge opportunities in Sri Lanka with natural rubber and skilled labours found in abundance.

Source: "Daily News", Colombo; 8 Nov 2011

(Syed Rashid Ali, Karachi, Pakistan)


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