Essar Ports registers 20% growth in cargo volumes in first half

India’s Essar Ports has registered a 20.1% year-on-year growth in cargo volumes with a throughput of 27.29m tonnes in the first half of financial year 2019-20, driven mainly by strong third-party cargo volumes.

Essar’s Ports business, which operates four terminals on the east and west coasts of India, saw its growth driven by a 183.2% spike in third-party cargo to 7.05m tonnes compared to 2.49m tonnes in the year-ago period.

Rajiv Agarwal, managing director and ceo of 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 has 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.”

Essar’s current operations span across the four terminals of Hazira, Vizag, Salaya, and Paradip, with a combined capacity of 110m tonnes per annum, which is roughly 5% of India’s port capacity.

Posted 22 October 2019

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