No wonder Chanaka yatawara collecting UML for a long time.Great Investment.
Friday, June 19, 2015
For the first time, TVS India is looking at opening an assembling facility in Sri Lanka. This is mainly for three wheelers and motor bikes.
Aashiq Lafir, Executive Director Finance, United Motors Lanka, speaking to Daily News business said that they are looking at bringing TVS three wheelers and motor bikes in knocked down form and assembling them in Sri Lanka.
The company would look at an investment around Rs. 400 million for this plant.
He said that the business model of this project is mainly export oriented. “India has some restrictions for direct exports to Pakistan and what we plan is to assemble them in Sri Lanka and re export them to Pakistan.”
The company would also look at the Afghanistan market for three wheelers and motor bikes alike.
The Executive Director Finance said that they would also do value addition to these vehicles by way of introducing local material thus supporting the local industry as well.
“There are Sri Lankan manufactures of batteries, seats and other parts and we would use them provided they meet the quality of TVS brand.
We are looking for a suitable warehouse complex in the Colombo District to house this operation thus opening up employment opportunities for youth as well.”
Lafir ruled out Hambantota since it was geographically too far for both administrative and other purposes. “We hope to re export the vehicles from the Colombo Harbour,”Lafir said.
TVS India which is one of the largest three wheeler and motor bike manufacturing facilities in the world is also one of the largest motor spare part manufacturers. “It is said that if TVS stops production for three days India transport industry would come to a virtual standstill.”However, currently the manufacture of spare parts in the Sri Lankan operation is not a serious subject under these assembly proposals.