Essar Ports Ltd., a part of the Essar Group, is looking at enhancing its port handling capacity to 110 metric tonnes per annum (MTPA) in FY19 from 95 MTPA currently, a top company executive said.
“We are expanding capacity at Hazira, which will add 15 MTPA at an investment of $20 million. We will be investing $50 million more at Hazira to further expand capacity,” said Rajiv Agarwal, managing director, Essar Ports Ltd.
The 95 MTPA capacity at four locations includes the 24 MTPA iron ore handling terminal at Vizag, to be inaugurated by Union Shipping Minister Nitin Gadkari on Friday. Last year, the company had divested its 58 MTPA port at Vadinar to Rosneft for $2 billion. Essar Vizag Terminal Ltd. (EVTL), a subsidiary of Essar Ports, has announced the completion of expansion-cum-modernisation of its iron ore handing terminal at Vizag Port Trust. The company, which took over the project in 2015, has got a concession to run the terminal till 2045 on a Design-Build-Finance-Operate-Transfer (DBFOT) basis.
₹830-cr. project
“We have invested ₹830 crore in this project and this is one of the biggest and best iron ore handling terminal in the country,” Mr. Agarwal said. “The project will help exporters on the east coast benefit from shorter turnaround times and reduced freight costs. The facility will support both export and coastal traffic,” he added.