India â€“ Sri Lanka CEAT Kelani JV in Rs3bn tyre plant expansion
ECONOMYNEXT – Sri Lanka’s CEAT Kelani Holdings will invest Rs3 billion to expand tyre manufacturing capacity and on new product development for the domestic and export markets, company officials announced Thursday.
The Indo-Lanka joint venture will set up a new Truck Bus Radial tyre plant, double production of radials and motorcycle tyres, increase exports and expand the existing passenger car radial tyre, CEAT Kelani Holdings chairman Chanaka de Silva told a news conference.
“New machinery is already on the way from Europe,” he said.
Production of Truck Bus Radial Tyres will start around June-July 2018.
(COLOMBO, January 11, 2018)