Essar Ports registers 20.07 percent growth in cargo volume

October 22 2019: Essar Ports, the operator of four terminals on the east and west coasts of India, has registered a 20.07 percent growth in cargo volumes with a throughput of 27.29 million tonnes in the first half of FY2019-20.

The growth has been driven by a 183.21 percent increase in third-party cargo compared to that in the corresponding period in the previous financial year. Cargo from captive customers grew by 6 percent.

Rajiv Agarwal, MD & CEO, Essar Ports Ltd, said “Significant boost in third-party business has been the key driver for our growth in overall volumes. Alongside this, our focus on driving operational efficiencies and minimising operating costs has helped in recording strong growth. Essar Ports has consistently surpassed the average growth rate of the sector, which is showing signs of heightened economic activity.”

Hazira, Gujarat

The 50 million-tonne-per-annum (MTPA) terminal of Hazira has had a cargo handling of 14.17 MT with 3.24 percent growth, 24.46 percent growth in third-party business and enhanced the third-party cargo share to 16.16 percent.

Vizag, Andhra Pradesh

The 24 MTPA Essar Vizag Terminal (EVTL), India’s largest iron ore handling terminal located on the outer harbour of Visakhapatnam Port, has had a Cargo handling of 5.91 MT with 52.22 percent overall growth, 7.17 percent growth in anchor customer business, 277.76 percent growth in third-party business and enhanced third-party cargo share to 41.62 percent.

Salaya, Gujarat

The 20 MTPA Essar Bulk Terminal Salaya (EBTSL), the deepest draft facility of Saurashtra region, has clocked a cargo throughput of 3.22 MT in the first half of FY20.

Paradip, Orissa

The 16 MTPA Essar Bulk Terminal Paradip (EBTPL), in Paradip Port, has clocked a cargo throughput of 4 MT at the same time.

Essar Ports is one of India’s largest private sector port and terminal developers and operators. It has invested INR 11,000 crore in developing world-class terminals in three Indian states. Its current operations span four terminals with a combined capacity of 110 MTPA, which is roughly 5 percent of India’s port capacity. The Company is a leader in the non-containerised bulk cargo space. Having clocked a throughput of 40 MT in FY19, Essar Ports is expecting to handle over 60 MT in the current financial year.

Outside India, Essar’s port assets include a liquid terminal in the UK and a coal berth in the development stage at Mozambique’s Beira port.