Essar Port’s Vizag Terminal registers 45% cargo growth; triples third-party cargo handling
Aug 1st, 2019
- Cargo handling increases to 3.2 MT in Q1FY20—up by 45% from 2.2 MT in Q1FY19
- Third-party cargo volume grows to 1.1 MT in Q1FY20—up by 225% from 0.4 MT in Q1FY19
- Share of third-party cargo in overall cargo volumes goes up to 40.6%
Mumbai, 01 August 2019: Essar Vizag Terminal Limited (EVTL), that operates the 24 MT (million tonne) Vizag terminal, which is India’s largest integrated iron ore handling complex located on the outer harbour of Visakhapatnam Port, today announced a 45% growth in overall cargo throughput in the quarter ending 30 June 2019.
The significant growth in overall cargo was primarily driven by a sharp rise in third-party cargo, with volume more than tripling when compared with the corresponding quarter in FY 2018-19. Cargo volumes from the anchor customer increased by 5.6% over the same period. The share of third-party cargo in the overall cargo volumes grew to 40.6%
Operational Performance Snapshot
Q1FY20 (in MT)
|Q1FY19 (in MT)||
Competitive advantage through the high degree of mechanisation at the terminal and the state-of-the-art cargo handling equipment that helps ensure rapid turnaround times have been the key drivers for attracting new clients.
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 —
Manish Kedia, Senior Vice President – Corporate Affairs, Essar
Phone: +91 98197 30092, Email: email@example.com
Hiral Vora, Adfactors PR
Phone: +91 97699 98892, Email: firstname.lastname@example.org