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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, he said.

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 investment.

“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.

 

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