Customs officers attached to the Bandaranaike International Airport have foiled an attempt to smuggle in 16 kilos of gold.
The gold was found inside vehicle spare parts and coffee-making machines, Customs sources said.
The smuggling racket had been carried out through courier companies, the Customs said.
The consignment containing the contraband had arrived from the UAE.
Customs officers said that the appearance and shape of gold had been modified to fit into the machinery and vehicle parts.
The value of the seized gold is estimated to be around Rs 220 million.
Two suspects have been arrested so far in connection with the racket.