Universal Auto to assemble Jaguars here

ASSEMBLY: An agreement was signed between the BoI and Universal Auto Assembly to the assemble automobiles under the 300 Enterprises Programme of the BOI to the Hambantota Divisional Secretariat.

The project, which represents an investment of Rs 50 million, will create employment opportunities for 109 workers.

The Agreement was signed by Chairman and Director General of the BoI Dhammika Perera, and Group Chairman of IWS Holdings I. W Senanayake, Minister of Enterprise Development and Investment Promotion . Dr Sarath Amunugama, handed over the agreement document to the investor.

The investor, I.W. Senanayake said that the company would begin by assembling X- type Jaguar sedans, the entry model in the range of the British manufacturer.

The next stage will be the assembly of a small four-wheel drive vehicle followed by the assembly of a double cab vehicle. These vehicles, unlike the Jaguars, will be sold under the company’s brand.

Senanayake said the double cab (and also a single cab vehicle) would be built to suit the requirements of the agricultural sector such as farmers, the tea plantations and other rurally based enterprises.

Another project by Universal Auto Assembly will be to assemble a light truck less than three tonnes in weight that could be used by the agricultural and construction sector.

The investor, I.W. Senanayake spoke of the possibility of making specialised models such as delivery vans and tippers.

Dr Amunugama said it was an excellent project and in addition it brought an industry such as automobile assembly to a district such as Hambantota, where the needs for employment and development were particularly pressing.

The opportunity to export the assembled vehicles to neighbouring countries notably India and Pakistan, through their Free Trade Agreements with Sri Lanka, was a strong possibility.

Also important, he added, was to promote production of locally manufactured components. There were many opportunities in the rubber sector, since natural rubber is now competitive in world markets where it has become cheaper than artificial rubber.