Essar Ports wins bid for development of 3 iron ore berths at Visakhapatnam - ACE Update Magazine

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Essar Ports wins bid for development of 3 iron ore berths at Visakhapatnam

Essar Ports, through its wholly owned subsidiary Vadinar Oil Terminal Ltd., wins the bid for development of three iron ore berths at Visakhapatnam port on BOT basis for 30 years. The company has quoted 31.01 per cent revenue share for mechanisation and operation of two outer harbour berths and one inner harbour berth which will have a combined capacity of 23 MMTPA.
 
This will be a big boost to third party cargo handling and revenue of Essar Ports as it will handle 17 MMTPA of third party cargo and 6 MMTPA of Essar Steel cargo. On commissioning of this project, EPL’s total capacity for iron ore export at the east coast will become 39 MMTPA including 16 MMTPA in Paradip port.
According to a statement released by the company, “Essar Ports can start the operation of the two outer harbour berths within next 3-4 months as the upgradation and operation at the terminal will go simultaneously. Vishakhapatnam port handled 12.3 million tonnes of iron ore during FY 13 in spite of slump in iron ore export in India. Bulk of this volume will be captured by these three berths after the mechanization as outer harbour berths will be capable of berthing super capesize vessels of 2,00,000 DWT and inner harbour berth will be capable of berthing panamax vessels of 80,000 DWT.” 
Commenting on this Rajiv Agarwal, Managing Director, Essar Ports Ltd. stated, “This project will significantly increase the 3rd party cargo handling of Essar Ports by contributing 17 MMTPA of cargo.  This will add to our continuous efforts towards developing modernised world-class terminals and serve new customers. This project will significantly increase the efficiency of Visakhapatnam Port thereby increasing its competitiveness and facilitating industrial growth in the region.”

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