Horana, Sri Lanka – Rigid Tyre Corp (Pvt) Ltd, part of the UAE-based Onyx Group has restarted building work on a greenfield tire production plant in Sri Lanka.
Rigid Tyre announced plans to build the €72-million plant in Horana, 50km away from Sri Lankan capital of Colombo in January 2017. It was intended to produce 3 million passenger car radial (PCR) tires a year.
The project was then, however, put on hold due to various disputes, including around the allocation of land for the facility.
In response to…