Press briefing of Cabinet Decision taken on 2016-06-14

Allocation of Land for Establishment of a Tyre Factory at Gonapola, Horana

- The annual income earned by Sri Lanka from the export of Pneumatic and Retreated Rubber Tyres and Tubes amounts to US$ 471 million and that has been accounted as 61.9% of the total rubber exports. Therefore, in order to further enhance the industries in this field, the proposal made by Hon. Malik Samarawickrama, the Minister of Development Strategies and International Trade, to provide necessary facilities to commence a tyre manufacturing plant with a production capacity of 03 million tyres per annum, as a BOI project, with an investment of US$ 75 million, was approved by the Cabinet.