Sri Lanka’s Micro Cars Limited has entered into a US $ 20 million agreement with the Board of Investment (BoI) to set up a vehicle manufacturing and assembling plant in the Mirijjawila Export Processing Zone (EPZ) in Hambantota.
The total project is expected to be completed by 2016 and set to be the second vehicle manufacturing/assembling facility set up in Sri Lanka by Micro Cars, with the first being located in the BoI Polgahawela EPZ.
Operating under the umbrella of Micro Holdings (Pte) Ltd, this new venture will be named Micro Cars International Consortium (Private) Limited.
In addition to the manufacturing and assembly lines, the state-of-the-art facility will feature a research and development unit, a test and racing track and a vocational training centre, offering a degree programme in automobile engineering, affiliated to a prestigious international educational institution.
The facility is expected to generate over 600 direct employment opportunities for the youth in Southern Sri Lanka. Similarly, many indirect employment opportunities will be generated through OEM parts/component manufacturers, who will be supplying locally manufactured parts and providing services to the production/assembling processes.