The Fiji National Provident Fund and a Sri Lankan firm are to take a majority stake in the government owned Fiji Ports Corporation.

The FNPF has partnered with Sri Lanka's Aitken Spence to take a 59 percent share in the port management company.

Under the agreement the government will receive more than US$46 million for the shares in its ports company.

The sale is part of the Fiji government's plan to sell state assets announced in the 2014 budget.

The minister for Public Enterprises, Aiyaz Sayed-Khaiyum, says Fiji Ports Corporation management and Aitken Spence would prepare a master plan to develop the ports of Fiji.

Aitken Spence has been a partner in Fiji Ports Terminal since August 2013.

(Radio New Zealand News)