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12. September 2020

SRI LANKA: USD 300 million tyre factory for Hambantota

Minister of Industries Wimal Weerawansha and Hambantota International Port Group (Private) Limited (HIPG) recently held a meeting in Colombo regarding a proposal to set up a tyre factory in Hambantota.

HIPG CEO Ray Ren said the first tyre factory was to be built with an investment of USD 300 million. He also said that 2,000 employees are required for the factory and they would be recruited from the area. Also, all the materials needed for the production of tyres would be obtained from Sri Lanka.

Here, a proposal was made by the HIPG to promote industry in Sri Lanka which was subsequently presented to the minister. The factory will be constructed at the Hambantota International Harbour premises in the 280 hectares large industrial zone.

Source: “Daily News”, Colombo; 3 Sept 2020
(Syed Rashid Ali, Karachi, Pakistan)

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