Sri Lanka’s foreign direct investment (FDI) will receive another major boost when Mahindra Group, India and Ideal Motors Colombo open their vehicle assembly plant in Horana in July, said Minister of Development Strategies and International Trade Malik Samarawickrama.
He was speaking at the launch of the first Electric Three Wheeler, Mahindra Treo and a range of commercial vehicles and buses conforming to the latest BS-4 emission standards to the Sri Lanka market in Colombo yesterday.
The Minister said that the total investment for the project would be US$ 50 million and would also open up new green collar jobs to youth.Samarawickrama said that government is keen to promote blue and green economy and requested Mahindra Group to train Sri Lankan youth in technical skills which is important for building the future job market.
He also said that the introduction of an electric three-wheeler too was a very timely move by both Mahindra Group, India and Ideal Motors Colombo.Deputy High Commissioner of India to Sri Lanka, Dr. Shilpak Ambule, said that India is making a great effort to go green especially in the transportation sector. “The government has created a special incubation centre to house electric motor cars and two and three wheelers start ups and assist them since it the future of mobility.”