Essar Ports Vizag Terminal poised for a strong FY23; Boosting India’s Steel Sector and enabling AatmaNirbhar Bharat
Mumbai, May 31, 2022: Essar Vizag Terminal Limited (EVTL) operating India’s largest Ore Handling Complex in Vishakhapatnam Port has recorded ~1.3 MMT of cargo handling for April’ 22 i.e. a run rate in excess of 14 MMT for FY 22 – 23 suggesting a growth of ~10% on an annualized basis. For FY 21–22, EVTL has handled a cargo of 12.7 MMT. The surge in traffic marks the uptick in Indian Steel Sector which has been a major contributor to India's manufacturing output.
EVTL handled 193 vessels and 1511 rakes in FY 21–22. It also achieved a monthly record of handling 171 rakes in March 2022. In April’ 22, M/s EVTL created another milestone by successfully loading a record 1,65,000 Metric Tons (MT) of Iron ore Fines on M.V. STAR ELINI Vessel – the largest ever parcel loaded and to call at Visakhapatnam Port
Mr. Rajiv Agarwal, Operating Partner (Infrastructure), Essar and Managing Director, Essar Ports, said, “The performance of Vizag Terminal is a testimony of our commitment to offer world class assets and services with technology at the core. Our facilities are conceptualized to give a sustainable advantage to our customers and trade. Our investments are a reflection of Essar’s ESG philosophy and an approach that places people before profits.”
Essar Ports has been a pioneer in investing in technologies and developing environment-friendly and efficient handling systems. EVTL‘s fully mechanised eco-friendly infrastructure delivers a performance which can be benchmarked with the best across the globe, while also enabling lower logistics’ cost for customers.
All technological advancements have been done keeping the company’s ESG philosophy in mind and putting people before profits. The port has excellent connectivity through rail, road and air routes and the all-weather deep draft facility has the capacity to serve the rapidly growing markets of South-East Asia, including China, Japan and Korea.
EVTL, the 24 MMTPA iron-ore export terminal at Visakhapatnam, Andhra Pradesh, is the largest iron ore handling complex in India. The terminal is strategically located in the Bay of Bengal in close proximity to Iron-ore mines located in Chhattisgarh, southern Odisha and Jharkhand.
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, and 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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