LankaWeb – South Korea promises to open new job opportunities for Sri Lankans lankaweb.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lankaweb.com Daily Mail and Mail on Sunday newspapers.
President Gotabaya Rajapaksa declared open Ferentino Tire Corporation- PVT Ltd, largest tyre and radiator tyre manufacturing factory in South Asia today (14). The factory has been set up on a 155-acre land belongs to BOI Industrial Zone in Wagawatta, Horana. Investment of the first phase is USD 100 million. Manufacturing will be carried out using European technology and state-of-art equipment. Special tyres will be manufactured for SUVs while catering to the demand in the world market for tyres for cars, bicycles and three-wheelers. 80% of the production will be exported and the remaining 20% will be supplied to the local market. The first stock of production will be exported to the USA this month.