Land set aside for Ceylon Steel tyre factory

Sri Lanka’s Ceylon Steel Corporation Limited is to receive 100 acres for the tyre factory it is setting up with technical assistance from Marangoni. The land is being acquired by the Urban Development Authority of Sri Lanka, which will lease it to Ceylon Steel for a 99-year period.

Earlier this year, Marangoni told that its involvement in the Ceylon Steel tyre factory project was a “hypothetical transfer of technology” discussed as “part of a possible joint venture in the passenger car tyre sector.” The plant is expected to export around 75 per cent of its output.

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