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Transnet CEO Michelle Phillips says the sale of a 49.99% interest in its largest container terminal last year to International Container Terminal Services had set the tone for the way in which the State-owned group would approach other private sector participation (PSP) transactions across its rail, ports, and pipelines businesses. Having faced two years of legal delay, the sale of the stake in the Durban Container Terminal Pier 2, now trading as the Durban Gateway Terminal, generated a profit on disposal for Transnet of R12.5-billion.
