Keells increases SAGT stake

EXPANSION: John Keells Holdings has increased its stake in South Asia Gateway Terminals (SAGT) to 33.75% by acquiring the stake owned by CDC Investment Holdings for a consideration of Rs. 3.6 billion. SAGT owns and operates the Queen Elizabeth Quay of the Port of Colombo.

"With this investment, JKH has demonstrated its commitment to the Port of Colombo. Volumes at SAGT have grown by 39% year-to-date, over the same period last year.

We are convinced that SAGT and the Port of Colombo have tremendous potential for further growth. The success of SAGT further proves the ability of Sri Lankan companies to develop and add value to large scale infrastructure projects," JKH Chairman, Susantha Ratnayake said.