Essar Ports overall cargo handling rises 20% in H1

Our Bureau | Updated on October 23, 2019

Essar port (file photo)   -  PTI

Essar Ports registered a 20 per cent rise in overall cargo throughput at its ports on the eastern and western coasts during the first half of the fiscal. For the April-September period, cargo volume with a throughput of 27.29 million tonnes (MT) was registered, up 20.07 per cent over the corresponding period previous year.

The growth has been driven by a sharp jump in third-party cargo at 7.05 MT, against 2.49 MT in the same period last year, showing a growth of 183.21 per cent.

Captive cargo at 20.24 MT continued to enjoy the lion’s share of the overall volumes. That’s up 6 per cent from the 19.10 MT reported in the corresponding period of the previous year, the company said.

Speaking on the performance, Rajiv Agarwal, MD & CEO, Essar Ports, said, “Significant boost in third-party business has been the key driver for our growth in overall volumes. Alongside this, our focus on driving operational efficiencies and minimising operating costs have helped in recording strong growth. Essar Ports has consistently surpassed the average growth rate of the sector, which is showing signs of heightened economic activity.”

At Hazira, the 50-MTPA terminal saw overall cargo handling of 14.17 MT, up 3.24 per cent from the 13.72 MT registered in the same period last year.

The 24-MTPA Vizag port of the company, Essar Vizag Terminal, reported 52 per cent increase in cargo handling at 5.91 MT (3.88 MT).

The Salaya port with 20 MTPA capacity posted 185 per cent jump in overall cargo handling at 3.22 MT in the first half of the current fiscal, against 1.13 MT in the corresponding period last year.

The company’s 16-MTPA Paradip port saw 4 MT cargo handling, unchanged from the previous year.

Published on October 23, 2019

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