Sri Lanka floods disrupt Industrial Asphalts production
ECONOMYNEXT – Flood waters have disrupted work at Industrial Asphalts (Ceylon), a Sri Lankan firm making bituminous products and surface coatings for industry and household use, including road construction and maintenance.
The company said there had been flooding in the production, warehouse and administrative facilities at its site at New Nuge Road in Peliyagoda, close to the Kelani River, which overflowed after several days of heavy rain.
The facility has been “inundated by flood waters” that have brought the company’s commercial activities to a standstill, a stock exchange filing said.
The management was working with government authorities and insurance companies to minimise and contain the damage and resume normal operations.
“As of now, we are not in a position to quantify the damage as the water level within the premises remains high,” the statement said.
(COLOMBO, May 20 2016)