The largest tyre manufacturing plant in the South-East Asian region was declared opened today in Horana.

President Gotabaya Rajapaksa declared opened the factory in Wagawatta, Horana this afternoon.

The factory has been established within a 155-hectare land with an initial investment of US$ 100 million.

The President’s Media Division said the plant will use modern technology from Europe during the manufacturing process.

According to the PMD, 80% of the production will be exported while the remaining 20% will be allocated for the domestic market.

The initial production of tyres will be exported to the United States.