Essar Ports' cargo handling grew over 23.5% in FY20
The heightened activity in the Indian economy has helped consistently surpass the average sectorial growth rate
Essar Ports’ cargo handling grew over 23.5% in FY20. The ports' business, which operates four terminals on the east and west coasts of India, has registered 23.5% growth in cargo volumes in FY20, with a throughput of 49.22 million tonne.
In terms of the Q4/FY20 performance, the terminals recorded 4.63% growth in cargo, with a throughput of 11.08 million tonne. The focus on driving operational efficiencies and optimising operations has helped in recording strong growth.
The heightened activity in the Indian economy has helped consistently surpass the average sectorial growth rate. While the mitigation measures adopted to control the COVID-19 outbreak have given rise to several limitations, the high mechanisation at facilities has enabled them to continue to operate and service customers, thus allowing them to meet the cargo-handling requirements of the nation.
Its Hazira terminal recorded a growth of 6.32% during FY20, handling 25.42 million tonne cargo, while Vizag terminal saw a rise of 34.06% in cargo handling of 12.87 million tonne. Salaya terminal saw a jump of 177.21% in cargo handling to 5.96 million tonne, while Paradip terminal handled 4.97 million tonne cargo witnessing 18.05% growth.
Essar Ports’ current operations span four terminals with a combined capacity of 110 million tpa, which is roughly 5% of India's port capacity. All terminals of Essar Ports are equipped with advanced cargo handling infrastructure and well poised to double capacity in the near-to-medium term.