Don’t miss the latest developments in business and finance.

VPT records 20 pc growth in iron ore exports

Image
Our Correspondent Visakhapatnam
Last Updated : Feb 15 2013 | 8:54 AM IST
The Visakhapatnam Port Trust (VPT) registered a 20 per cent growth in iron ore exports during the current fiscal up to December 23.
VPT handled 76.4 lakh tonnes of iron ore and iron pellets as against the 64.4 lakh tonnes in the corresponding period during the last fiscal.
The port crossed the 10 million tonne mark and achieved a 15.5 per cent growth during the last fiscal. "We are confident of continuing this growth till March-end," said Duttu Raju, the head of VPT traffic department.
"Visakhapatnam Port Trust exported 103 lakh tonnes of iron ore during the last fiscal. We anticipate a growth of nearly 20 per cent in iron ore exports this year. At present, several Indian private exporters are coming to the Vizag port to export iron ore as there is a heavy requirement for iron ore in China. Due to the congestion at the Chennai port, the officials there made a request to the exporters not to take their iron ore vessels to the port till January-end. So we expect some more exporters to the Visakhapatnam port. Owing to all these reasons, we are confident that we could continue this growth till March-end," he said.
"Seven private exporters have been using the VPT to export iron ore for the last five years. In addition to the state-owned MMTC and NMDC, the arrival of these private exporters helped the port in achieving the 20 per cent growth. Until recently, Hothur Traders, Bellary Iron Ore, Tungabadhra Minerals, Sesa Goa and other private companies used to export their iron ore from Chennai port. With the recent restrictions in that port, we are expecting some of these exporters to shift to the Vizag port. At present, five iron ore vessels are berthed at the port, and some more will be coming next month," Raju informed.

Also Read

First Published: Dec 25 2003 | 12:00 AM IST

Next Story