Essar Ports on Tuesday said its Vizag Terminal is set for strong growth this fiscal as the facility recorded around 1.3 million metric tonne of cargo in April. This has been achieved at a run rate in excess of 14 MMT for FY23, suggesting growth of around 10 per cent on an annualised basis.
The surge in traffic marks the uptick in the domestic steel sector, which has been a major contributor to India's manufacturing output, it said. Essar Vizag Terminal Ltd (EVTL), which operates the country's largest iron ore handling complex, handled 12.7 MMT cargo in the last fiscal. It also handled 193 vessels and 1,511 rakes, as per the company.
"EVTL has recorded 1.3 MMT of cargo handling for April '22 i.e. a run rate in excess of 14 MMT for FY2223, suggesting a growth of 10 per cent on an annualised basis," the company said in the statement. The company said the terminal also successfully loaded a record 1.65-lakh metric tonne (MT) of iron ore Fines on MV STAR ELINI Vessel the largest ever parcel loaded and to call at Visakhapatnam Port."Our facilities are conceptualised 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," said Rajiv Agarwal, Operating Partner (Infrastructure), Essar and Managing Director, Essar Ports.