Essar Ports, which operates four terminals on the east and west coasts of India, has achieved a astonishing growth rate in excess of 20% over the first half of the current financial year, handling 27.29 million tonnes of cargo in this period. The growth has been driven by a 183.21% increase in third-party cargo compared corresponding period in the previous financial year. By comparison cargo from captive in-house customers grew by 6%.
Essar Ports is one of India's largest private sector port and terminal developer, with operations spanning four terminals with a combined capacity of 110 million tonne per annum (MTPA), which roughly is 5 per cent of India's port capacity.
Essar’s terminal in Hazira port handled 14.17 million tonnes, 3.24% up on the first half of last year, with a 24% upturn in third party cargoes, while the Essar Vizag Terminal (EVTL), India’s largest iron ore handling facility, moved 5.91 million tonnes, 52.22% up. At Vizag, third party cargo flows were over 270% higher. Essar Bulk Terminal Salaya (EBTSL) achieved a cargo turnover of 3.22 million tonnes in the first half of the financial year, 184% more that in the previous 12 months, while the new Essar Bulk Terminal Paradip (EBTPL), facility moved a swooping 4 million tonnes of cargo.
A remarkable boost in third-party business has been the key force behind our growth in overall volumes. Alongside this, our focus on driving operational efficiencies and minimizing operating costs has helped in recording strong growth," Essar Ports Ltd MD & CEO Rajiv Agarwal said. The company has consistently surpassed the average growth rate of the sector, which is showing signs of heightened economic activity, he said.