Agreement signed for 26.5 million dollars Volkswagen assembly plant in Sri Lanka
Sri Lanka's investment promotion agency Board of Investment inked an agreement with the German auto maker Volkswagen to set up an assembly plant in the island nation at an investment of 26.5 million dollars.
The facility will be located in a 30 acre land, Kuliyapitiya, and will be completed within a period of two years.
Under this agreement which is a BOI Section 17 agreement, the investor will assemble vehicles in the 1000 cc to 2000 cc category.
These vehicles will be diesel powered and include passenger cars, Sport Utility Vehicles, Multi Utility Vehicles or commercial vehicles.