🚌 Cabinet Approves Rs. 195.89M SLTB Scrap Metal Disposal

• Overview: The Cabinet of Ministers has approved the disposal of accumulated scrap metal belonging to the state-run Sri Lanka Transport Board (SLTB), awarding contracts totaling Rs. 195.89 million to six industrial bidders to clear obsolete assets and generate revenue. • Contract Breakdown: - Ashok Steel Industries Ltd.: Rs. 89.42 million (largest allocation) - S.R. Steel Ltd.: Rs. 47.58 million - IWW Steel Industries Ltd.: Rs. 39.43 million - Udaya Industries Ltd.: Rs. 16.54 million - Kalana Tech Engineering: Rs. 1.69 million - Ceylon Steel Casting Ltd.: Rs. 1.23 million • Key Context: The decision follows recommendations by the High-Level Procurement Committee upon a proposal by Transport, Highways, and Urban Development Minister Bimal Rathnayake, supporting asset monetization within state enterprises and supplying local steel & industrial manufacturing.