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Thursday, 24 November 2016 00:10 - - {{hitsCtrl.values.hits}}
Biggest proposed facility in SE Asia under $ 75m investment
A proposed project to build a fully integrated, ultramodern tyre manufacturing plant in Sri Lanka under a multi-million dollar investment by an Italian company, has been given the green light by the Government. The primary aim of this ambitious BOI-approved project, described as the ‘biggest fully integrated tyre manufacturing plant in South East Asia’, is to leverage on the global reputation that the country enjoys of the quality natural rubber produced in Sri Lanka and take it to a higher level of value addition.
Rovereto – Marangoni and Ceylon Steel Corporation (CSC) announced the signing of a partnership agreement on establishing this state-of-the-art production facility on a 100-acre extent in the Industrial Zone at Gonapola, Horana.
The proposed plant will produce tyres using the most advanced European technologies by Marangoni within the scope of a joint project to build an important rubber industrial district in Sri Lanka with focus on export activities. The operation is included in the sales process of the Marangoni Tyre S.p.A. equipment and know-how.
Work on the project is scheduled to begin in January 2017 and when completed, the new tyre manufacturing facility is expected to create more than 3,000 job opportunities, both direct and indirect, while focusing on professionals who will benefit from the exposure to ultramodern technology.
The biggest beneficiaries of this initiative will be the communities that live in the proximity of the facility as a complex of such magnitude in itself will be the catalyst to spur livelihood development. It will also see real estate prices spike, housing proliferate and infrastructure, particularly highway accessibility and container logistics at Hambantota revitalised.
The proposed plant will be geared towards meeting the demands of a broad spectrum of tyre products of the European market as well as the local feed. High performing radials to load bearing OTRs, from car tyres to three-wheelers and two-wheeler tyres to trucks, lorries and forklifts will be manufactured, in addition to retreads and state-of-the-art rims. In a market where cutting edge technology and technical know-how are key factors, the mere installation of the latest facility alone would not suffice. That was why the government looked deeper to getting a global marque along with its reputation and clientele to offer that invaluable advantage to make a head start of significance.
An embodiment of ‘a green industry’, the plant will be environment-friendly with effective measures in place to reduce the carbon footprint. The machinery would meet the stringiest tests for optimal energy efficiency and be clinical about pollutants, emissions and waste disposal.
Marangoni Tyre S.p.A ended its production activities in Sri Lanka in 2014 after the Group decided to exit from the car and light tyres business. This new partnership agreement could lead to the development of further collaboration plans.
