Canindia News

Essar Ports’ cargo handling grows 23% in FY20

New Delhi, April 8 (IANS) Essar’s Ports business, which operates four terminals on the east and west coasts of India, has registered a 23.5 per cent growth in cargo volumes in FY20, with a throughput of 49.22 million tonnes (MT).

In terms of their fourth quarter performance, the terminals recorded a 4.63 per cent growth in cargo, with a throughput of 11.08 MT. The lower growth in cargo volumes in the quarter is largely on account of disruption in global business in wave of coronavirus spread.

Rajiv Agarwal, MD & CEO, Essar Ports Ltd, said: “While the mitigation measures adopted to control the Covid-19 outbreak have given rise to several limitations, the high mechanization at our facilities have enabled them to continue to operate and service customers, thus allowing them to meet the cargo handling requirements of the nation.”

Essar Ports current operations span four terminals – Hazira, Vizag, Salaya, Paradip – with a combined capacity of 110 MTPA, which is roughly 5 percent of India’s port capacity.

Outside India, Essar’s ports business operates an oil terminal in Stanlow, United Kingdom, and has a coal berth in the development stage at Mozambique’s Beira port.

–IANS

sn/skp/

YOU MAY ALSO BE INTERESTED IN

IIFL dealer, 5 others barred from securities market for front running

CanIndia New Wire Service

India can become AI laboratory of the world: NITI Aayog CEO

CanIndia New Wire Service

India needs to move beyond exporting raw materials: Goyal

CanIndia New Wire Service

Growth in data tariffs, broadband reach show move towards higher ARPU

CanIndia New Wire Service

Three pvt banks in TN, Kerala hit headlines for wrong reasons

CanIndia New Wire Service

Stimulus, healthy macros expected to lift markets (IANS Equity Outlook)

CanIndia New Wire Service

‘CIRP threshold against personal guarantors should be raised’

CanIndia New Wire Service

Unscathed: Pent-up demand more sustained, predictable now, says Kia India (IANS Special)

CanIndia New Wire Service

Accounts not performing due to delay won’t be labelled NPAs: Centre

CanIndia New Wire Service

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

SUBSCRIBE TO OUR WEEKLY NEWSLETTER

Stay up to date with the latest news and exclusive offers directly in your inbox