Rs 250m venture in Bandaragama:
Alba gets nod for car, truck assembling
Alba Group of Companies, Sri Lanka’s only three wheeler manufacturer,
plans to assemble cars and trucks in Sri Lanka.
Chairman/Chief Executive Director of Alba Group of Companies M. Y. M
Nassar told Daily News they expect to invest Rs. 250 million for the
project. It will be a joint venture.
The company will manufacture chassis and bodies in Sri Lanka.
However, this project will take two to three years to become fully
operational. The company will manufacture only a few vehicles initially,
Nassar said they expect to commence the three-wheeler manufacturing
plant by the end of this year in Bandaragama. This is a Rs. 250 million
“The project was delayed with Government authorities taking time for
approvals, Nassar said. The Government should accelerate the approval
process for industrialists to embark on their projects,” he said.
The new three-wheeler plant will produce 2,000 three-wheelers per
month and both projects will provide around 1,000 jobs.
“We have already exported 21 three-wheelers to South Africa and will
export 12 to West Indies within a few days, he said.
Bangladesh and Pakistan are the other lucrative markets for Alba
three-wheelers. The company failed to enter the Europe market since
three-wheelers are not popular among Europeans, he said.
“The production costs of three-wheelers have increased due to the tax
imposed on imported raw materials, spare parts and other taxes.
“The Government should provide concessions for local industrialists
to compete in the international market,” he said.