The TVS Lanka vehicle assembly facility in Horana is increasing its production to make Sri Lanka self-sufficient in two-wheelers.
Chief Operating Officer of TVS Lanka, Geethal Anthony said their new facility is primarily for assembling two-wheelers under the concept of ‘Domestic Value Addition’ promoted by the Ministry of Industries, in keeping with global standards and protocols.
The new facility incorporated with an investment of over half a billion rupees also serves to provide many occupational opportunities for local youth and experts.
“We think this endeavour is particularly timely amid the present import restrictions to manage the rupee depreciation. Over time our endeavour will eliminate the need for imports,” he said.
The High Commissioner of India to Sri Lanka, Gopal Baglay, visited TVS Lanka vehicle assembly facility in Horana recently coinciding with its first anniversary.
Gopal Baglay appreciated TVS’s noteworthy contribution to the Sri Lankan economy at this critical time. He expressed hope that other Indian enterprises follow TVS’ lead and team up with Sri Lankan businesses and the Government in dealing with the present crisis and revitalising the Sri Lankan economy. He said that Sri Lankan youth have a lot to offer in terms of skills, talents and resources.
The Management outlined plans to bring even more versatile and sustainable solutions to Sri Lanka in the foreseeable future in collaboration with TVS India. TVS Lanka (Pvt) Ltd is a fully owned subsidiary of TV Sundram Iyengar & Sons (Pvt) Limited, India.