Mumbai, May 26, 2022: Essar Ports - Paradip Terminal, has recorded 0.8 MMT of cargo handling for April’ 22 i.e. a run rate of 9.5 MMT for FY 22 – 23 suggesting a growth of ~40% on annualized basis. The Terminal has also handled a record cargo of ~6.8 MMT during the financial year 2021-22, making it the highest annual cargo handled since its commissioning. The buoyancy in throughput is a mirror of spur in the economy and excellence in operations of Paradip Terminal.
It also recorded highest load rate of 70,000 tonnes in a day with an average berth Turnaround Time (TAT) score of 1.23 days per vessel. The average throughput in FY 2021-22 stood at 49,500 Tonnes/day. The terminal has handled ~33 MMT of cargo and catered to 556 vessels since its commissioning.
Mr. Rajiv Agarwal, Operating Partner (Infrastructure), Essar and Managing Director, Essar Ports, said, “I congratulate the team at Paradip Terminal for achieving the best cargo throughput in spite of the difficult market conditions. The stellar performance is a testimony of our commitment to give a sustainable advantage to our customers and trade. Our all-round performance is a result of our innovative approach, developing state of the art solutions and investment in future-ready technology. All investments in the terminal are a reflection of Essar’s ESG philosophy and an approach that places people before profits.”
Essar Ports is known to invest in technology, environment-friendly mechanisms and efficient handling systems. The company’s Paradip Terminal boasts of a fully mechanised eco-friendly infrastructure that include wagon tipplers, stackers and Reclaimers, ship loaders and unloaders. By eliminating non-mechanised handling, the terminal infrastructure delivers performance at efficient costs to its customers. Furthermore, the deeper drafts of the terminal lead to economies of scale and bigger parcels, that in turn helps reduce carbon footprint.
Essar Ports falls under the Infrastructure and Logistics portfolio of Essar Global Fund Limited (EGFL), which is managed by Essar Capital Limited as its investment manager.
The 16 MTPA all-weather deep-draft terminal in Paradip Port is strategically located in the Bay of Bengal in close proximity to China, Japan, Myanmar and the rest of the southeast-Asian region. The terminal also serves the coastal movement for the steel industry within India.
About Essar Ports
Essar Ports, one of Essar Global Fund’s investments in the infrastructure sector, is one of the largest private sector port and terminal developers & operators in India by capacity and throughput. It has four operational terminals in India across Hazira and Salaya (in the state of Gujarat) on the west coast, and one each in Visakhapatnam and Paradip on the east coast. Current operational port terminal capacity in India is 110 MTPA. Having invested ₹ 11,000 crore in developing world-class terminals in three Indian states, Essar Ports is facilitating and enabling the vision of AatmaNirbhar Bharat in the port and shipping sector.
Essar Global Fund Ltd (EGFL) is a global investor, owning a number of world-class assets diversified across the core sectors of Energy (comprising Exploration & Production, Refining & Marketing and Power businesses), Infrastructure & Logistics (comprising Ports, Projects and Stanlow Terminals), Metals & Mining, Technology & Retail (comprising Shipping, Oilfield services, Technology Solutions, Device protection and Customer experience). The portfolio companies have aggregate revenues of about USD 13 billion and employ over 7,000 people. Essar Capital Ltd is the investment manager of EGFL. It monitors and manages the entire portfolio of investments owned by EGFL.
Manish Kedia, Senior Vice President – Corporate Affairs, Essar
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