Srilanka, Jan. 10 -- Sri Lanka's largest tyre manufacturer, Ferentino Tyre, announced plans to significantly expand its operations with a US$ 250-300 million investment in the second phase of its plant.

This expansion is expected to boost annual export revenue to US$ 300 million, a substantial increase from the current US$ 100 million.

Spanning across 155 acres in Wagawatta Industrial Zone in Horana, the first phase of the project was commissioned in 2021. Following the acquisition of required certifications and the deployment of effective export market strategies in key markets in 2023, exports started to gather momentum.

"The second phase will enable us to meet the diverse specifications of various international markets. The estim...