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6:02 am - Friday April 27, 2018

Essar Ports upbeat about over Rs 2,800 cr investment in Salaya &Vizag terminals

Agencies, Mumbai

Essar Ports Limited (EPL) on Monday said that its investment of over Rs 2,800 crore in its Salaya and Vizag terminal projects has the potential to increase the company’s revenues by 30 per cent in FY 2018-19 on the back of third-party cargo growth.

Rajiv Agarwal, chief executive of EPL, said, “The two fully integrated and automated facilities at Salaya and Vizag further the goal of port-led development set by the government of India and our Prime Minister Narendra Modi. It is also a manifestation of Essar’s vision of building world-class core sector assets of national importance.

Essar Bulk Terminal Salaya Limited (EBTSL) recently commenced commercial operations at its 20 million tonne dry bulk terminal at Salaya with the berthing of its first vessel.

“The facility, the first deep-draft terminal in the Saurashtra region, has been designed to berth Capesize vessels with a vessel turnaround time of less than two days, thus offering a competitive advantage to the local industry.

The Salaya terminal, which has been built at a cost of Rs 2,000 crore, is expected to emerge as the most preferred deep-draft port destination for shipment of dry bulk cargo in the Saurashtra region.

It is capable of berthing vessels of up to 1,00,000 deadweight tonnage (DWT), while handling commodities like coal, bauxite, limestone and fertilisers, including both export and import cargoes. The port’s infrastructure is best in class and compliant with global safety standards,” he added.

Posted in: Business

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