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Essar Ports registers 12% Q-o-Q growth in cargo in Q1 FY17-18

 Essar Ports has handled a record 19.62 million tonnes of cargo in the quarter ending 30 June 2017. This is a growth of 12 percent when compared to the cargo handling in the corresponding quarter of the previous fiscal, says a release.

 For dry and unit cargo, the company recorded a significant 32 percent growth. The substantial growth in traffic at the companyís three dry bulk ports in Hazira, Paradip and Vizag, came on the back of heightened activity and capacity utilisation of Essar Steel, which is Essar Portís anchor customer.

The overall growth in traffic was also helped by the 60 percent increase in third-party cargo volumes during the quarter.

The Essar dry bulk terminal at Paradip Port surpassed past benchmarks to record 131 percent growth in cargo handling.

About Essar Ports
Essar Ports is one of the largest port companies of India, with a current capacity of 140 MTPA. The capacity is being expanded to 194 MTPA over the next few years. Essar Ports has five operational port terminals at Hazira, Vadinar, Paradip, Salaya and Visakhapatnam.

The Hazira port is an all-weather, deep-draft port with 30 MMTPA of dry bulk and break bulk cargo handling capacity. Vadinar is also an all-weather, deep-draft port with 58 MMTPA of liquid cargo handling capacity. The Paradip dry bulk terminal is an all-weather, deep-draft port with 16 MTPA of dry bulk cargo handling capacity. The Visakhapatnam terminal is an operational berth that was taken over in May 2015 and has a capacity of 16 MTPA. The Companyís newly commissioned dry bulk terminal at Salaya has increased its capacity by a further 20 MTPA.

The Company is expanding its Hazira port capacity by 20 MTPA, which will take the capacity to 50 MTPA. The Company is also undertaking capacity addition of iron ore berths at Visakhapatnam Port with a total capacity of 16 MTPA.

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