Essar Ports cargo handling jumps over 23 pc to 49.22 MT in 2019-20

Essar Ports on Wednesday said its cargo handling grew over 23 per cent to 49.22 million tonnes (MT) in 2019-20.

Essar Ports is one of the country's largest private sector port and terminal developers and operators and claims to have invested Rs 11,000 crore in developing world-class terminals in three states.

"Essar Ports' business, which operates four terminals on the east and west coasts of India, has registered a 23.5 per cent growth in cargo volumes in FY 2019-20, with a throughput of 49.22 million tonne (MT)," the company said in a statement.

In terms of their fourth quarter performance, the terminals recorded a 4.63 per cent growth in cargo, with a throughput of 11.08 MT, it said.

 

Essar Ports MD and CEO Rajiv Agarwal said, "Our focus on driving operational efficiencies and optimising operations has helped in recording strong growth. The heightened activity in the Indian economy has helped us consistently surpass the average sectorial growth rate."

While the mitigation measures adopted to control the COVID-19 outbreak have given rise to several limitations, the high mechanisation at facilities has enabled them to continue to operate and service customers, thus allowing them to meet the cargo-handling requirements of the nation, he added.

Its Hazira terminal recorded a growth of 6.32 per cent during the financial year handling 25.42 MT cargo, while Vizag terminal saw a rise of 34.06 per cent in cargo handling of 12.87.

Salaya terminal saw a jump of 177.21 per cent in cargo handling to 5.96 MT, while Paradip terminal handled 4.97 MT cargo witnessing 18.05 per cent growth.

Essar Ports is one of India's largest private sector port and terminal developers and operators.

Its current operations span four terminals with a combined capacity of 110 million tonne per annual (MTPA), which is roughly 5 per cent of India's port capacity.

The company claims to be a leader in the non-containerised bulk cargo space.

All terminals of Essar Ports are equipped with advanced cargo handling infrastructure and are well poised to double capacity in the near-to-medium term.

The company said it is working in tandem with the Government of India to meet its ambitious target of becoming the USD 5-billion economy.

Outside India, Essar Ports' business operates an oil terminal in Stanlow, the UK, and has a coal berth in the development stage at Mozambique's Beira port.