USD 300 mn tyre factory for Hambantota | Daily News


 

USD 300 mn tyre factory for Hambantota

HIPG Company officials with Minister Weerawansa
HIPG Company officials with Minister Weerawansa

Minister of Industries Wimal Weerawansha and Hambantota International Port Group (Private) Limited (HIPG) held a meeting regarding a proposal to set up a tyre factory in Hambantota at the Ministry of Industries, Colombo 03 recently.

HIPG CEO Ray Ren said the first tyre factory was to be built with an investment of USD 300 million. He also said that 2,000 employees are required for the factory and they would be recruited from the area. Also all the materials needed for the production of tyres would be obtained from Sri Lanka.

Here, a proposal was made by the HIPG to promote industry in Sri Lanka which was subsequently presented to the minister. The factory will be constructed at the Hambantota International Harbour premises in the 280 hectares large industrial zone.

Tim Xiao, General Manager of HIPG Company, also attended the discussion


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