Essar Ports takes over Vizag iron ore terminal

The Dollar Business Bureau Essar Ports took over the Vizag iron ore outer harbour terminal with two berths on May 14, 2015. Rajiv Agarwal, Managing Director, Essar Ports Ltd; says “We are happy to announce takeover of operations of Vizag outer harbour iron ore terminal which is an existing operational project with no gestation period.” The company also signed a Concession Agreement with Kandla Port Trust (KPT) for additional 1 SPM and 2 product berths and its Salaya project has received all regulatory approvals. Essar Ports current capacity is 120 MMTPA. The capacity is being expanded to 194 MMTPA over the next few years. The company has four operational port terminals at Hazira, Vadinar, Paradip and Vizag Iron Ore. 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 was commissioned in December 2012 and is an all-weather, deep-draft port with 16 MMTPA of dry bulk cargo handling capacity. The Vizag terminal is having a capacity of 16 MMTPA. The Company is also setting up a dry bulk terminal at Salaya with a capacity of 20 MMTPA. Additionally, the Company plans to expand its Hazira port capacity by 20 MMTPA – taking its capacity to 50 MMTPA. The Company is also undertaking capacity addition of additional iron ore berths at Visakhapatnam Port with a total capacity of 16 MMTPA. The Company also plans to develop a coal terminal at Paradip of 18 MMTPA capacity.    

May 14, 2015 | 6:26 pm IST.