By Shamindra Ferdinando
National Freedom Front (NFF) leader Wimal Weerawansa, MP, yesterday (2) said that the party that controlled the East Container Terminal (ECT) would be in a position to take over the neighbouring South Asia Gateway Terminal (SAGT) in a couple of years in terms of an agreement between the government and Sri Lanka’s first public-private container terminal.
The SAGT operation was launched in 1999 during President Kumaratunga’s tenure at the height of the war.
The Board of Investment flagship SAGT consists of approximately 60% Sri Lankan shareholding, and is backed by John Keells Holdings, APM Terminals, Peony Investments (subsidiary of Evergreen Marine Corporation) and the SLPA.
The SLPA owns 15 % shares of the SAGT. In the China- managed Colombo International Container Terminal (CICT), too, the SLPA owned 15% shares whereas the Chinese held 85%.