New Delhi, Jan 8 (PTI) Essar Ports Limited today said its more than Rs 2,800 crore investment in Salaya and Vizag terminal projects has the potential to increase its revenues by 30 per cent in 2018-19 on the back of third-party cargo growth.Also Read - India’s First High-Speed Bullet Train Set to Run on Track by 2026, Railway Minister Makes Big Announcement
The company said it has completed Rs 2,800 crore investment in terminal projects at Salaya in Gujarat and Vizag in Andhra Pradesh and its capacity is likely to go up to 90 MTPA (million tonne per annum) by month-end from the current 82 MTPA. Also Read - Gujarat's First Omicron Infected Patient's Relatives Test Covid Positive
“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 Prime Minister Narendra Modi. Also Read - India Reports 2 More Omicron Cases, Centre Urges States to Take Steps to Control COVID Spread | Key Points
It is also a manifestation of Essar’s vision of building world-class core sector assets of national importance.” The company said Essar Bulk Terminal Salaya Ltd (EBTSL) recently commenced commercial operations at its 20 MT dry bulk terminal 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, thus offering a competitive advantage to the local industry.
The Salaya terminal, which has been built at a cost of Rs 2,000 crore, is expected to emerge as the most preferred deep draft port destination for shipment of dry bulk cargo in the Saurashtra region, it said, adding it is capable of berthing vessels of up to 100,000 tonnes DWT, while handling commodities like coal, bauxite, limestone and fertilisers.
The company said Essar Vizag Terminal Ltd (EVTL) is executing a Rs 830-crore expansion project aimed at upgrading the iron ore handling capacity of the Vizag Terminal (Outer Harbour) from 12.5 MTPA to 24 MTPA.
EVTL recently commissioned an 8,000 TPH (tonnes per hour) Ship Loader, which has increased its cargo handling rate from 70,000 TPD (tonnes per day) currently to 120,000 TPD, and is expected to significantly increase revenues, the company said.
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 TPD to 70,000 TPD, it said.
This is published unedited from the PTI feed.