Essar Port’s 50 MTPA Hazira Terminal sees 22% third-party cargo growth in Q1 - Essar | Creating Value

Essar Port’s 50 MTPA Hazira Terminal sees 22% third-party cargo growth in Q1

Jul 30th, 2019

  • Cargo handling increases to 7 MT in Q1FY20—up by 2.9% from 6.8 MT in Q1FY19
  • Third-party cargo volume grows to 1.1 MT in Q1FY20—up by 22.2% from 0.9 MT in Q1FY19
  • Share of third-party cargo in overall cargo volumes goes up to 15.7%

Hazira, 30 July 2019: Essar Bulk Terminal Ltd (EBTL), that operates the 50 MTPA bulk terminal in Hazira, Gujarat, today announced a 22 percent growth in its third-party business in the quarter ending 30 June 2019.

The Company achieved an overall cargo throughput of 7 MT (million tonnes) in Q1 FY2019-20, of which 1.1 MT was third-party cargo. The share of third-party cargo in overall cargo volumes also rose to 15.7%.

Operational Performance Snapshot

  Q1FY20 (in MT) Q1FY19 (in MT) Growth (%)
Overall cargo 7.0 6.8 2.9%
Captive cargo 5.9 5.9
Third-party cargo 1.1 0.9 22.2%

 

There is a significant upswing in the region’s economic activity and the Hazira terminal is well placed to capitalise on the opportunity. The focus on operational efficiencies and increase in third-party cargo will be major catalysts in fuelling future growth.

Essar Ports is one of India’s largest private sector port and terminal developers and operators. It has invested Rs 11,000 crore in developing five 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.

All Essar Ports terminals use advanced cargo handling infrastructure and are equipped to double capacity in the near to medium term. The Company is therefore focussed on not only enhancing cargo throughput, but also on ramping up capacity and contributing meaningfully to the Government of India’s ambitious target of developing 3,130 MT of port capacity in the country by 2020.

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.

— Ends —

Media Contacts

Manish Kedia, Senior Vice President – Corporate Affairs, Essar
Phone: +91 98197 30092, Email:  manish.kedia@essar.com
Adfactors PR

Hiral Vora
Phone: +91 97699 98892, Email: hiral.vora@adfactorspr.com