Marangoni investing $75 million Sri Lanka industrial capacity
Local news reports suggest Marangoni is investing $75 million in expanding industrial tyre manufacturing in Sri Lanka. The reports add detail to official announcements about increased Eltor EVO for the forklift tyre production capacity made in May.
According to government media minister Gayantha Karunatilleke, Sri Lanka’s cabinet of ministers has approved a proposal by Malik Samarawickrama, minister of development strategies and international trade, to allocate land near Gonapola, Horana.
The additional tyre production facility is expected to have a capacity of 3 million tyres per year with 75 per cent designated for export markets.