India’s port company Essar Ports Limited (EPL) has finalized an investment of INR 28 billion (USD 441.5 million) in its Salaya and Vizag terminal projects.
The company informed that the investment has the potential to increase its revenues by 30% in fiscal year 2018-19 on the back of third-party cargo growth.
“The two fully integrated and automated facilities at Salaya and Vizag further the goal of port-led development set by the Government of India and our Hon’ble Prime Minister Shri. Narendra Modi,” Rajiv Agarwal, CEO-EPL, said.
Essar Bulk Terminal Salaya Limited (EBTSL) recently commenced commercial operations at its 20 million tonne dry bulk terminal at Salaya with the berthing of its first vessel. The facility, the first deep-draft terminal in the Saurashtra region, has been designed to berth Capesize vessels with a vessel turnaround time of less than two days.
The Salaya terminal, which has been built at a cost of INR 20 billion, is capable of berthing vessels of up to 100,000 dwt, while handling commodities like coal, bauxite, limestone and fertilisers, including both export & import cargoes.
“The business potential of this asset is tremendous since this is the first deep draft terminal in the region. Quick turnaround and our ability to handle vessels up to 100,000 DWT will give a significant competitive edge to our customers,” Deepak Sachdeva, CEO-EBTSL, said.
On the east coast of India, EPL’s Essar Vizag Terminal Limited (EVTL) is executing an INR 8.3 billion expansion project aimed at upgrading the iron ore handling capacity of the Vizag Terminal from 12.5 mtpa to 24 mtpa.
EVTL recently commissioned an 8,000 tonnes per hour ship loader, which has increased its cargo handling rate from 70,000 tonnes per day currently to 120,000 tpd.
Following the commissioning of the expansion project, the facility will be able to berth vessels up to 200,000 dwt, with a depth of 18 metres, on the outer harbour of Vizag Port.
Essar Vizag Terminals Limited (EVTL) took over the Vizag Port expansion project in May 2015 on a Design-Build-Finance-Operate-Transfer (DBFOT) basis for a period of 30 years. Since then, the company has ramped up the iron ore loading capacity of the terminal from 25,000 tonnes per day to 70,000 tpd.
Video Courtesy: Essar