Essar Ports' cargo handling grows 23% in FY20

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SME Times News Bureau | 08 Apr, 2020
Essar's Ports business, which operates four terminals on the east and west coasts of India, has registered a 23.5 per cent growth in cargo volumes in FY20, with a throughput of 49.22 million tonnes (MT).

In terms of their fourth quarter performance, the terminals recorded a 4.63 per cent growth in cargo, with a throughput of 11.08 MT. The lower growth in cargo volumes in the quarter is largely on account of disruption in global business in wave of coronavirus spread.

Rajiv Agarwal, MD & CEO, Essar Ports Ltd, said: "While the mitigation measures adopted to control the Covid-19 outbreak have given rise to several limitations, the high mechanization at our facilities have enabled them to continue to operate and service customers, thus allowing them to meet the cargo handling requirements of the nation."

Essar Ports current operations span four terminals - Hazira, Vizag, Salaya, Paradip - with a combined capacity of 110 MTPA, which is roughly 5 percent of India's port capacity.

Outside India, Essar's ports business operates an oil terminal in Stanlow, United Kingdom, and has a coal berth in the development stage at Mozambique's Beira port.