News
President opens South Asia’s biggest US$ 250 million tyre factory
by Sanath Nanayakkare
President Gotabaya Rajapaksa inaugurated South Asia’s largest tyre factory built at a cost of US$ 250 million, at Wagawatte in Horana on Thursday.
Ferentino Tyre Corporation (Pvt) Limited is Sri Lanka’s biggest manufacturing facility for tyres and radials.
Ferentino Chairman Nandana Lokuwithana recalled how he was continuously motivated by President Gotabaya Rajapaksa to kick-start the plant without any delay.
“The President not only emphasized on getting the factory started but also mobilized and provided the support of relevant government institutions including the Board of Investments (BoI) towards getting the infrastructure and other operational aspects in place to ensure its commencement,” he said.
Lokuwithana said that the local manufacturers and entrepreneurs are encouraged by the President’s vision to boost production of goods for the local and export markets. “We believe we can rely on the government’s support in the future too,” he said.
The opening ceremony was also attended by Minister of Industries Wimal Weerawansa and Minister of Ports and Shipping Rohitha Abeygunwardena. The facility constructed with an investment of USD 250Mn is the brainchild of reputed entrepreneur Nandana Lokuwithana, the incumbent Chairman of Ceylon Steel Corporation (Pvt) Ltd.
The project will be the largest such facility in Southeast Asia manufacturing Passenger Car Radials (PCR) including specialized category for SUVs, two-wheelers, three-wheelers, trucks, buses and solid tyres seamlessly combining local talent with sophisticated European technology.
The new manufacturing plant combines state-of-the-art European technology in tyre manufacturing with local craftsmanship for an optimum, world-class output. The project was facilitated by the Board of Investment of Sri Lanka (BOI) and aims to generate a substantial amount employment opportunities directly and indirectly.
Ferentino Tyres will use locally sourced rubber as a main ingredient thereby compelling the local industry to level itself to deliver to the global expectation. The Phase 1 of the project has already been completed and commissioned while the construction of Phase 2 is scheduled to be completed in March 2022.
Lokuwithana also heads Onyx Group in the UAE with a host of subsidiaries including a steel fabrication company. His other investments include: Marriot Al Jadaf Hotel in Dubai, up-coming state-of-the art Cement Grinding Plant in Mirijjawila, Hambantota slated to be commissioned in May 2021 and Marangoni Industrial Tyres Lanka (Pvt) Ltd.
The National Business Facilitation Centre (NBFC), which is being established under the Presidential Secretariat with the aim of removing administrative and regulatory barriers that exist among government institutions in relation to investment and industry and expediting these processes, will be opened tomorrow (22).
The centre is being established on the President’s initiative with the aim of bringing about a positive transformation in the industrial sector. The centre will provide solutions to issues that arise in dealing with the government machinery when starting and operating a business, while also coordinating with the relevant government institutions to provide the necessary facilities.
The “ViYASA” National Business Facilitation Centre (NBFC) has been established at Building C-80, Hector Kobbekaduwa Mawatha, Colombo 07, and is headed by Senior Additional( Secretary to the President, Seevali Arukgoda.
The centre will be opened under the patronage of Minister of Labour and Deputy Minister of Finance and Planning Dr Anil Jayantha Fernando and Minister of Industry and Entrepreneurship Development Sunil Handunnetti, with the participation of Secretary to the President Dr Nandika Sanath Kumanayake.
The website https://nbfc.presidentsoffice.gov.lk is also scheduled to be officially launched on the occasion.
President’s Media Division)
Latest News
Court of Appeal Judge M. Sri Mevan Anthony Edirimannasuriya Corea appointed as Acting President of the Court of Appeal
President Anura Kumara Dissanayake has appointed Court of Appeal Judge Mayadunna Sri Mevan Anthony Edirimannasuriya Corea as the Acting President of the Court of Appeal.
The appointment has been made as President’s Counsel Nalin Rohantha Abeysuriya, who currently serves as President of the Court of Appeal, will be overseas until the 24th.
Accordingly Judge Mayadunna Corea was sworn in as Acting President of the Court of Appeal before President Anura Kumara Dissanayake at the Presidential secretariat this morning (21).
Secretary to the President Dr Nandika Sanath Kumanayake was also present at the occasion.
(President’s Media Division)
Latest News
President instructs expediting further measures concerning Sivarasa Anojan, sentenced to death in Saudi Arabia
A discussion to review the further measures that could be taken regarding Sivarasa Anojan, a young Sri Lankan national who has been sentenced to death in Saudi Arabia, was held at the Presidential Secretariat this afternoon (21), under the patronage of President Anura Kumara Dissanayake.
The discussion focused on the measures taken to date concerning Sivaraasa Anojan and the further diplomatic and legal steps that could be pursued. Attention was also given to expediting the necessary further measures that could be taken to secure his release.
President Anura Kumara Dissanayake instructed officials to continue the necessary diplomatic engagement with the relevant authorities in Saudi Arabia and to maintain close and continuous involvement in all further measures concerning the case.
Reaffirming the Government’s continued attention to the safety and welfare of Sri Lankans living and working overseas, the President also stressed the need for the relevant ministries and institutions to work in close coordination and pursue all possible measures that could be taken in connection with the case.
Deputy Speaker Rizvie Salih, Deputy Minister of Religious and Cultural Affairs Muneer Mulaffer, Governor of the Western Province Hanif Yusoof, Secretary – Ministry of Foreign Affairs, Foreign Employment and Tourism Aruni Ranaraja, Secretary to the Ministry of Defence Air Vice Marshal Sampath Thuyacontha (Retd), Attorney General Parinda Ranasinghe and officials of the Ministry of Foreign Affairs, Foreign Employment and Tourism were also present at the discussion.
(President’s Media Division)
“ViYASA” National Business Facilitation Centre (NBFC) to be opened tomorrow (22)
Court of Appeal Judge M. Sri Mevan Anthony Edirimannasuriya Corea appointed as Acting President of the Court of Appeal
President instructs expediting further measures concerning Sivarasa Anojan, sentenced to death in Saudi Arabia
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