- Total investment of US$100 million planned to enhance GRI’s advanced agricultural tire portfolio and manufacturing capacity
GRI has completed Phase II of its US$100 million manufacturing capacity upgrade investment for its specialty tire facility in Sri Lanka.
On completion of Phase II, the production capacity will be increased by almost 100 percent of the current capacity to provide a throughput of 60 tonnes per day. This will help drive demand for the company’s agricultural tire category, which was launched in 2018 in key markets, primarily the US, Europe and Australia.
The aim is to increase GRI’s current production capacity to 750,000 tires per year. This results in the generation of a total capacity of 100 tonnes per day, which forms Phase III of the expansion project which is currently underway. Once completed, the entire project will include a 220,000 sq. ft. expansion.
To accommodate a capacity of 60 tons for Phase II, a total area of 175,000 sq. ft. has been used. This expansion, which started in 2021, includes an increase with eight new tire production machines and 17 tire curing presses, the use of state-of-the-art technology for real-time decision making and machine optimization, and a constant focus on improvement of the research and development activity of the physical infrastructure in the production premises.
When all three phases are completed, the entire expansion is expected to generate a total of over 500 new jobs.
GRI CEO Dr. Mahesha Ranasoma said, “We are proud to have received such encouraging levels of customer acceptance for our radial as well as bias agricultural tires that we introduce to the international markets we operate in, such as our GREEN XLR brands and GREEN EX. As a result of this expansion, we are now able to double our current volumes and provide our customers with the opportunity to grow their business. We are also delighted to serve Sri Lanka by creating employment opportunities through this expansion while generating much needed foreign and export earnings for the country.”
The significant increase in production capacity was also complemented by a strong focus on sustainability-led manufacturing initiatives.
GRI manufactures high quality specialty tires that are sustainably manufactured using pure natural rubber in Sri Lanka. Founded in 2002, the company manufactures solid material handling tires, radial agricultural tires and construction tires. GRI has operations in nine countries and a business presence in more than 50 countries worldwide.
Since 2018, GRI has progressed rapidly expanding its specialty tire manufacturing plants and compounding facilities in Sri Lanka, as well as its operations in key countries. GRI guarantees its commitment to sustainability and environmental protection in all its activities, as well as at the local level