Malaysia’s DNC Asiatic Holdings is to set up a plant in Sri Lanka to produce motorcycles. The plant will mainly handle exports. The total investment is16 million US Dollars, the Board of Investment revealed.The Board of Investment said in a statement, the venture Demak Manufacturing Lanka, will provide employment for a workforce of 200 people initially. Kent Kee, Director, Commercial Operations of Demak Manufacturing Lanka said the products would also be available locally.
The plant, which will make a range of motorcycles, bikes and scooters as well as spare parts, is expected to start in five months. BOI Chairman Dhammika Perera presented the agreement to Gao Rong, Chief Executive of DNC Asiatic Holdings. DNC Asiatic Holdings, the manufacturer of the Malaysian motorcycle brand Demak is a joint venture between Malaysian and Chinese interests.
BOI approval entitles investors tax concessions and duty free imports of machinery and material.
Sun, Mar 14, 2010
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