Essar Ports’ Cargo Volumes Prosper in Q1
India’s port operator Essar Ports posted a record 19.62 million tons of cargo in the quarter ending June 30, 2017.
This represents a growth of 12% when compared to the cargo handling in the corresponding four-month period of the previous fiscal year, as explained by Essar Ports.
For dry and unit cargo, the performance was better, with the company recording a 32% growth.
“The substantial growth in traffic at the company’s three dry bulk ports in Hazira, Paradip and Vizag, came on the back of heightened activity and capacity utilisation of Essar Steel,” Essar Ports said.
What is more, the overall growth in traffic was helped by the 60% increase in third-party cargo volumes during the quarter, according to the company.
As informed, the dry bulk terminal at Paradip Port saw a 131% rise in cargo handling.
Commenting on the performance, Rajiv Agarwal, CEO & MD, Essar Ports, said: “FY18 has started on a promising note for Essar Ports. Handling 19.62 million tonnes of cargo in Q1 itself is an encouraging sign and we are confident of sustaining our performance and grow throughout the year.”
Essar Ports, which has five operational port terminals at Hazira, Vadinar, Paradip, Salaya and Visakhapatnam, currently has a capacity of 140 MTPA. The capacity is to be expanded to 194 MTPA over the next few years.
Image Courtesy: Essar Ports