Essar Port’s Vizag Terminal Registers 45 Per Cent Cargo Growth

Having clocked a throughput of 40 MT in FY19, Essar Ports is expecting to handle over 60 MT in the current financial year.

Author: IANS

Published: August 1, 2019, 6:36 PM IST

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https://www.india.com/business/essar-ports-vizag-terminal-registers-45-per-cent-cargo-growth-3733891/ Copy

Picture for representational purpose only. Photo Courtesy: IANS

Essar Vizag Terminal Ltd (EVTL), which operates the 24 MT (million tonnes) Vizag terminal, on Thursday announced a 45 per cent growth in overall cargo throughput in the quarter ended June 2019 on a year-on-year basis.

“The significant growth in overall cargo was primarily driven by a sharp rise in third-party cargo, with volume more than tripling when compared with the corresponding quarter in FY 2018-19,” the company said in a statement.

Cargo volumes from the anchor customers increased by 5.6 per cent over the same period and the share of third-party cargo in the overall cargo volumes grew to 40.6 per cent, it said.

“Competitive advantage through the high degree of mechanisation at the terminal and the state-of-the-art cargo handling equipment that helps ensure rapid turnaround times have been the key drivers for attracting new clients,” it said.

Having clocked a throughput of 40 MT in FY19, Essar Ports is expecting to handle over 60 MT in the current financial year.