Rigid tyres to start production in April 2018

Production at the Ceylon Steel Group’s proposed state-of-the-art tyre production facility in Horana will commence in April 2018, the company said in a media announcement.

The foundation stone laying ceremony for the construction of this factory owned by Sri Lankan businessman Nandana Lokuwithana was recently held.

The media release said technical expertise is provided by Italian Tyre giant Marangoni, who gained global recognition for its environmental friendly ultra-modern technological applications.

This new Rs. 11.25 billion venture will produce as its end-aim, the largest fully integrated tyre manufacturing plant this country has ever known.

The tyre plant, being the first of its kind in Sri Lanka, is expected to manufacture a whole gamut of tyres both for the local and foreign market.

“Besides the manufacture of tyres, the plant has earmarked several other separate divisions for enhancing the value adding of the rubber industry. One product is the manufacture of high density conveyor belts, aiming at the mining industry of the world. In a similar manner high pressure hydraulic pipes, in high demand in oil fields right now, will also be manufactured.

The owner, Lokuwithana owns several businesses in West Asia including the Dubai Marriot hotel and is seen as a Mahinda Rajapaksa loyalist. However last year the former president denied that he (Rajapaksa) was the owner of the Dubai Marriot or the Steel Corporation.