Sri Lanka's Cabinet of Ministers has authorized the disposal of scrap metal assets owned by the Sri Lanka Transport Board, awarding contracts to six companies following a competitive tender process that generated nearly 196 million rupees.

The Cabinet has given formal approval for the Sri Lanka Transport Board to sell off its scrap metal holdings through a structured procurement process. The initiative, which received initial clearance in October 2024, proceeded through a competitive bidding system designed to maximize returns for the state-owned transport entity.

Nine companies submitted bids for the contracts. The High-Level Procurement Committee evaluated all submissions and recommended awarding the business to the bidders offering the highest prices. This resulted in contracts being distributed among six companies: Ashok Steel Industries received the largest allocation at approximately 89.4 million rupees, followed by S.R. Steel at 47.6 million rupees and IWW Steel Industries at 39.4 million rupees. The remaining three firms—Udaya Industries, Kalana Tech Engineering, and Ceylon Steel Casting—received smaller portions.

The total value generated from the scrap metal disposal contracts stands at approximately 195.9 million rupees. The Transport Minister presented the proposal to the Cabinet, which endorsed the recommendation following established national procurement guidelines. The initiative represents an effort to monetize surplus assets while adhering to transparent bidding procedures.