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Essar Ports handles 12.7 MT cargo in October-December

Cumulative cargo handling during April-December 2020 period stood at 36.5 MT.

January 14, 2021 / 03:35 PM IST
Source: Reuters

Source: Reuters

 
 
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Essar Ports on Thursday said it handled 12.7 million tonne (MT) cargo in October-December period of the current fiscal.

The company had handled 12.6MT of cargo during the previous quarter, it said.

"For the three months ending December 2020, the company has sustained revenues for 12.7MT, same as the previous quarter, as it tries to overcome challenges posed due to the COVID-19 pandemic era," the company said in a statement.

Cumulative cargo handling during April-December 2020 period stood at 36.5MT.

"It had clocked a cumulative revenue for 36.5MT of cargo handling for the nine months ending December 2020, led by demand in power and steel industries and as the economy finds green shoots ahead of the world’s largest ever vaccination drive to fight the COVID-19 pandemic," the company said.

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The company said its growth trajectory has continued despite facing several challenges during the entire year.

"We now look forward to a post Covid era now that India embarks upon one of the largest vaccination drives of the world. We expect a bounce back in the economy and revival of demand in next few months,” said Rajiv Agarwal, CEO & MD, Essar Ports Ltd.

Essar Ports specializes in development and operation of ports and terminals for handling dry bulk, break bulk, liquid and general cargo. It is one of the largest private sector port developers and operators in India in terms of capacity and throughput.

It has four operational terminals - one each in Hazira and Salaya (both in Gujarat) on the west coast, and in Visakhapatnam and Paradip on the east coast. The current operational capacity of the port terminals in India is 110MT per annum.
PTI
first published: Jan 14, 2021 03:35 pm

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