The government is to temporarily ban the export of ferrous and non ferrous scrap to overcome a severe shortage of raw materials in the Foundry industry.
The ban will come into effect shortly with the cabinet of ministers approving a memorandum submitted by Industrial Development Minister Kumara Welgama calling for immediate action to protect the Foundry industry.
Welgama, said that the Foundry industry was faced with a severe shortage of raw materials due to export, of iron, steel copper, nickel, aluminium, lead zinc and tin scrap which is used as raw material by the industry.
`Unless immediate action is taken the shortage of raw material will lead to the closure of many Foundries`, he said.
Cabinet spokesman and Media Minister Anura Priyadharshana Yapa said that the cabinet also granted approval for construction of the Colombo-Katunayake Expressway at a cost of US $292.4 million on a proposal by Highways Minister Jeyaraj Femandopulle
`The China Metallurgical Construction Corporation will construct the Expressway at a cost of US $292.4 million`, he said.