June 11, Colombo: Sri Lanka's leading tire manufacturer, CEAT Kelani Holdings Tuesday opened its new radial tire production plant at its manufacturing complex in Kelaniya.
Economic Development Minister Basil Rajapaksa declared open the new hi-tech production facility for radial tires for passenger cars and sports utility vehicles (SUVs).
CEAT Kelani Holdings, a joint venture between India's RPG Group and Sri Lanka's Kelani Tyre, has invested Rs. one billion for the newly built radial tire production plant.
When the new production plant starts production, CEAT Kelani will increase its radial tire building and curing capacity from 1.1 million to 1.3 million tires annually.
CEAT, as the market leader in Sri Lanka in both the radial and commercial tire segments, has accounted for nearly 50 percent of the country's tire requirements.
CEAT Kelani is also contemplating to set up a Rs 6.5 billion truck radial plant at its Kelaniya premises, N. C. Venugopal, Managing Director and CEO of CEAT Kelani Holdings said at the opening of the radial tire plant.