Prime Minister Ranil Wickremesinghe on Saturday, inaugurated Sri Lanka’s first ever joint Automotive Assembly Plant by world renowned Mahindra and Mahindra Ltd, of India and Sri Lanka’s Ideal Lanka (Pvt.) Ltd at Lewwanduwa, Welipenna.
The Premier said that the establishing of more such manufacturing plants in Sri Lanka, would one day make Sri Lanka an export oriented nation.
He said the government’s main objective was to create more Sri Lankan manufacturers in the coming years, in order to manufacture many goods and provide services to cater to the local and overseas market.
Wickremesinghe said that it would result not only in the creation of direct employment opportunities to Lankan youth and indirect employment opportunities to others, but also boost the country’s economy which would swell to a greater extent.
The Premier said the government had already commenced work of the industrial parks at Bingiriya, Hambantota and Kandy and with the opening of the KKS, Jaffna Industrial zone, more employment opportunities would open for thousands of youth and also bring more foreign exchange to Sri Lanka.
He said with the prevailing peaceful atmosphere, the tourism industry is also showing a significant improvement.
The Premier said the Mahindra - Ideal Lanka combination is a fine example to all Sri Lankan manufacturers and he expected more and more Lankan manufacturers to follow suit to commence investments for the sake of the motherland.
He also assured that Sri Lanka would commence more economic ventures with India in the years to come with the blessings of Indian PM Narendra Modi.
High Commissioner Taranjit Singh Sandhu said this nature of investments would strengthen economic bonds between the two countries India and Sri Lanka further and thanked Mahindra and Mahindra Ltd. partnering Ideal Lanka for this long standing venture.
Ideal Motors Chairman Nalin Welgama said this novel venture is a Rs. 3 billion investment and he had planned to assemble a passenger vehicle while generating more employment avenues to youth in the country. Ideal Motors Deputy Chairman Aravinda de Silva requested the Prime Minister to encourage Sri Lanka’s younger generation to commence such ventures in the country.
Mahindra and Mahindra Ltd., Managing Director Dr. Pavan Goenka said the inauguration of the Automotive Assembly Plant is a significant milestone for Mahindra’s foray into the Sri Lankan market and said this assembly plant would not only add to the industrial growth in Sri Lanka, but would also generate significant employment opportunities.
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