Wheels

Apr 07, 2013 (LBO) - SML Frontier Automotive (Pvt) Ltd, a unit of listed Sathosa Motors will invest in a one million dollar plant in Hambantota to assemble Land Rovers in Sri Lanka, an official said.






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At the moment the state has raised taxes on cars bought by ordinary people in the street but elected rulers and state functionaries can get tax free or tax slashed cars on permits. The permits in turn are re-sold in the secondary market to ordinary citizens.

"Government permits on vehicles help us," Perera said. "If the government policy is to stop permits we will be badly hit.

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Perera said a new Range Rover will be launched next month. A workshop will be constructed in the third quarter of 2013.

"We are looking to buy a land near Hambantota port because all the vehicles come through Hambantota port," chairman Sumal Perera told reporters.

The company is a joint venture with another investor, Sheran Fernando. The firm is the sole distributor in Sri Lanka for Land Rover.

We are planning to recruit about 100 people and will give an internationally recognized training in assembling through E- learning and practical session,” Sheran Fernando, managing director of SML Frontier Au