COLOMBO: Prime Minister Ranil Wickremesinghe is set to kick off construction work of the much-awaited Volkswagen assembly plant in Labuyaya, Kuliyapitiya today.
Premier Wickremesinghe is scheduled to lay the foundation stone of the $26.5 million plant later Tuesday evening. According to the agreement signed between the Board of Investment (BOI) and local agent, Senok Automobiles Group, vehicles in the 1000 cc to 2000 cc category, including passenger cars, sport utility vehicles and Multi Utility Vehicles will be assembled in Sri Lanka. The brand will be marketed locally for a period of three years before exporting to overseas markets.
Volkswagen is a leading German automobile manufacturer based in Wolfsburg, Germany. The company was founded in 1937 and manufactures cars, trucks and buses. The company revenue reached Euro 197 billion in 2013. Best known models of the brand are the iconic Beetle, Golf and Passat.
