CEAT Kelani Holdings has announced the achievement of an 85 per cent increase in the production of tyres for the ‘two-wheeler’ segment over just three months, as a full-bodied response to the needs of the local market consequent to the temporary import restrictions introduced by the government.
Maximising capacity utilisation at its manufacturing plants at Kelaniya and Kalutara, the company pushed production of tyres for motorcycles and scooters from 27,000 units a month in June 2020 to 41,000 per month in July and August, and is on target to produce 50,000 tyres in September, increasing volumes by 52 per cent in the first step and by an incremental 22 per cent thereafter.
The sharp increases in production of tyres for the two-wheeler segment follows similar ramping up of production of truck and bus tyres as well as passenger car radials by CEAT Kelani, which prior to these increases was producing half of Sri Lanka’s pneumatic tyre requirements. To achieve the increases in two-wheeler capacity, the company said it had utilised available capacity at its three-wheeler tyre plant in Kalutara.
CEAT Kelani currently manufactures 32 different types of scooter and motorcycle tyres in 43 varying specifications, and now caters to 37 per cent of local market requirements for two-wheeler tyres.
“The import restrictions challenge domestic industries to show what they are truly capable of, and we are pulling out all the stops to fully utilise the capacity we have to support the government’s initiative of import substitution through increased domestic manufacturing,” CEAT Kelani Managing Director Ravi Dadlani said. “We are continuing to look at ways of meeting demand for the most popular categories and sizes of tyres, and are keeping the government informed of the products that we are not equipped to manufacture, so that they can be imported.”
CEAT’s increased production of truck and bus tyres has resulted in the Company producing 100 per cent of the segment’s requirements and enabled the government to make a saving of Rs 11 billion a year in foreign exchange. The Company’s latest initiative in the two-wheeler tyre segment is estimated to enable a further saving of Rs 350 million a year through import substitution, Mr Dadlani disclosed.
The expansion of production capacity for this segment of tyres has resulted in a 100 per cent increase in the production of sizes 90/90-12 TL and 90/100-10 TL that fit popular scooter models such as Honda Dio, Yamaha Ray ZR, Honda Grazia, TVS Wego, and Suzuki Burgman. Meanwhile, CEAT’s production of tyre size 90/90-17 TL that fits motorcycle models such as TVS Apache, Bajaj Pulsar 160 NF and Bajaj Pulsar 180 has increased by 400 per cent, and the Company has achieved a 100 per cent increase in the production of the 100/80-17 TL tyre that is required for the popular Yamaha FZ. Production of tyres for Bajaj Pulsar 150, Bajaj CT 100, Bajaj Platina, and TVS Heavy Duty Super XL has also increased significantly, the Company said.
Notably, CEAT Kelani Holdings has kept the prices of its tyres unchanged since December 2019 to support customers and the economy, despite the additional investments made in increasing capacity and an increase in market prices due to demand.
CEAT Kelani Holdings is considered one of the most successful India – Sri Lanka joint ventures in the manufacturing sector. The joint venture’s cumulative investment in Sri Lanka to date totals Rs 8 billion, inclusive of Rs 3 billion committed in January 2018 for expansion of volumes, technology upgrades and new product development. The company’s manufacturing operations in Sri Lanka encompass pneumatic tyres in the radial (passenger cars, vans and SUVs), commercial (Bias-ply and radial), motorcycle, three-wheeler and agricultural vehicle segments.
Dialog Enterprise introduces Dialog SmartLife App for Three Sinha roller doors
The Three Sinha Group, a leading roller door company in Sri Lanka, has teamed up with Dialog Enterprise, the corporate ICT solutions arm of Dialog Axiata PLC, to launch a smart roller door controlled via the Dialog SmartLife App. This app enables users to control and access roller door services conveniently from their smartphones. Customers who use Three Sinha roller doors simply need to download the Dialog SmartLife App on Apple App Store and Google Play Store on their smartphone to operate the roller doors from anywhere.
“This is another important step in that process, and we are pleased to partner Dialog Enterprise to provide customers with a future-fit solution. I invite our customers to become a part of this experience”, said Manjula Ariyakumara, the Managing Director of Three Sinha Group of Companies. “As expounded by our brand ethos ‘The Future.Today’, Dialog is continuously seeking avenues of incorporating communication technology into many service areas and product offerings. In line with this vision, we are delighted to partner Three Sinha, a leading Roller Door company in Sri Lanka”, stated Navin Pieris, Group Chief Officer – Dialog Enterprise of Dialog Axiata PLC
BOI launches long term residence visa programme for investors
The Board of Investment (BOI) recently launched the five-year residence visa program dedicated to investors, stakeholders and BOI enterprises.Issuing long-term visas for investors has been the practice as per the international standards. On par with matching the international benchmark in respect of ease of doing business, the BOI has decided to launch this program to attract more investors to the country.
The long-term visa program, a long-felt need, primarily aims to facilitate the investors who wish to embark on a journey with the BOI.The BOI annually issues 7500-8000 visa recommendations for investors, employees and dependents.The BOI has granted visas for foreign nationals from 109 countries such as India, the United Kingdom, Japan, Korea, Malaysia and Pakistan which represent the most applicants based on last year’s statistics.
Addressing the gathering, Investment Promotion Minister Dhammika Perera said “The happiness on the faces of those investors present at the occasion, implies that the newly launched visa residence scheme is a success,”
“Before the implementation of this program, they had to go through a long documentation process every year to get these visas,” he pointed out.
“Having understood the prime need to provide a seamless and convenient service for investors, we have launched the new program albeit I have not officially assumed duties as the Investment Promotion Minister,” Perera highlighted.
BOI Director General Renuka M Weerakone stated “It is certainly a pleasure to see all our long-standing investors on this special day of launching the long-term residence visa program for investors.
“You all have been the contributors towards 65% of export earnings to Sri Lanka and have stood by us even in times of difficult periods that our country faced, which we wish to acknowledge with great gratitude,” she underscored.
People’s Bank commemorates its 61st anniversary
People’s Bank, held a modest ceremony to on 1st July to commemorate their 61st anniversary at the bank’s Head Office in Colombo 02. Chairman of the People’s Bank Sujeewa Rajapakse and CEO/General Manager Ranjith Kodituwakku addressed the staff at this event.
In addition, Religious programs were organized by the Buddhist Association, Hindu Association, Muslim Majlis and the Christians Guild of the People’s Bank to invoke blessings on the country, the people, the customers and the pioneering leaders who have contributed to establish the People’s Bank.
Accordingly, a Pirith chanting was held at the Head Office which was followed by an alms giving at Sambodhi Viharaya in Fort with the patronage of Chief Incumbent Most Ven. Professor Iththademaliye Indhasara Thero. Hindu pooja was conducted by Sri Nivasa Kurukkal, Bambalapitiya, Islamic Service conducted by Deshabandu Al Haj Faisal Hassan mowlavi at Dawatagaha Jumma mosque in Colombo and the holy mass was conducted by Rev. Father Anton Rohitha at St. Philip Mary’s church in Pettah.People’s Bank Corporate and Executive Management, bank staffs and retired employees were also present at the occasion.
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