President Gotabaya Rajapaksa ceremoniously inaugurated Southeast Asia's largest tyre manufacturing facility- Ferentino Tyre (Pvt) Ltd in the Wagawatte Export Processing Zone today.
The project estimated at USD 250 million is said to be an impetus for exports whilst creating thousands of employment opportunities.
The manufacturing plant has been established on a land extent above 160 acres in the Wagawatte Export processing Zone and the company plans to purchase raw material locally for the radial tyre production.