Peninsular and Oriental Steam Navigation Co.'s Sri Lanka unit reported a sharp increase in container handling in its first year of operation to August 2000. "In just 12 months, productivity levels have doubled and South Asia Gateway Terminal Pvt Ltd (SAGT) has handled 261,787 20-foot equivalent units.... a 40,682 teu increase over the year before period," SAGT said. "... SAGT is 52.5 percent owned by units of Britain's P&O and Sri Lankan conglomerate John Keells Holdings Ltd. SAGT last September took possession of the Colombo port's Queen Elizabeth Quay in a $240 million deal for a new breakwater. It also agreed to build a new passenger terminal. The group plans to raise annual handling capacity to 1.1 million containers in 2003.