Colombo, Jan 3 (NIA) – Sri Lankan Prime Minister Ranil Wickremesinghe, on Tuesday, laid the foundation stone to build a Volkswagen assembling plant in Kuliyapitiya, in north central Sri Lanka.
The 26.5 million dollar plant is promoted by Sri Lanka’s Senok Automobiles group, which has the agency for Volkeswagen.
Under the BOI agreement signed, the investor will assemble vehicles in the 1000 cc to 2000 cc category. These vehicles will be diesel powered and include passenger cars, Sport Utility Vehicles (SUV), Multi Utility Vehicles (MUV) or commercial vehicles.
Initially these vehicles would be marketed locally for a period of 3 years and thereafter the vehicles manufactured will be exported to overseas markets.
Volkswagen is a leading German automobile manufacturer based in Wolfsburg, Germany. The Company was founded in 1937 and produces cars, trucks and buses. It is best known for Iconic models such as Beetle, Golf and Passat.
The uniqueness of the project would be the inflows of German advanced automobile technology into the country and creating of job opportunities for the local youth.