Profits from rubber picking-up for Corporation

Anjana SAMARASINGHE

PROFITS: The Sri Lanka Rubber Products and Export Corporation has recorded Rs. 7 million in net profits during past six months.

The Chairman of the Sri Lanka Rubber Products and Export Corporation R.B Herath said the corporation has been incurring losses since 2000 and it had been proposed to shut it down.

There are five factories under the corporation but only the factory in Mawanella is commercially active today. These factories are situated in Elpitiya, Baduraliya and Kalutara. These factories manufactured products such as rubber carpets and matresses.

The factory in Mawanella today manufactures Centrifuge Latex rubber and Skim Crepe. 'We produce 75 metric tonnes of rubber per month and expect to increase the production to 100 metric tonnes, Herath said.

He said they collect 75,000 litres of latex per month through the rubber smallholders in the area. These suppliers comprise of 68 supply units and other private suppliers.

However these products are exported to countries like Pakistan through the local market.

The Corporation is also planning to establish a tyre manufacturing unit in the Mawanella factory premises. "Now we are in the process of estimating the cost for restarting other factories too.

We expect to restart these factories as joint ventures with the private sector or to lease these factories," he said. These factories will create around 1000 job opportunities. There will be a stable market for rubber smallholders too, he said.

Meanwhile, Director, Department of Rubber Development said that Government has allocated Rs 57 million for rubber based industries in the country.