India’s Essar Ports add handling capacity in Vadinar

Essar Ports Ltd., which is part of the Essar Group, has commissioned the 12 million metric ton per annum expansion at its Vadinar terminal at a total cost of Rs 1,065 crores (US$231.3 million). This additional capacity is in the form of a new jetty handling petroleum products, storage tanks and a road gantry. With this commissioning, the total handling capacity of the Vadinar Port has gone up to 58 million metric tons per annum (MMTPA). The additional capacity is in line with Essar Oil’s refinery expansion to 18 MMTPA for phase one and an additional 20 MMTPA due for completion by September 2012. “The building of this additional capacity is in line with the future growth of the company,” said Rajiv Agarwal, managing director of Essar Ports Ltd. “Essar Ports has committed to take the total port capacity to 158 MMTPA by 2013. The company expects to see revenue growth of over 35% every year for the next few years based on increased realization and incremental traffic.” The company said two of its ports are now operational, including Hazira and Vadinar. Three additional ports are in the process of being built. Essar Ports is one of India’s largest owners and operators of ports. (July 20, 2011)