Essar Ports’ investment of more than ₹2,800 crore in its Salaya and Vizag terminal projects is likely to boost the company’s revenue by 30% in FY19 on the back of cargo growth.
“The two fully integrated and automated facilities at Salaya and Vizag further the goal of port-led development set by the Government of India,” said Essar Ports CEO Rajiv Agarwal.
The Essar Vizag Terminal recently commissioned a ship loader, which has helped raise its cargo handling rate from 70,000 TPD (tonnes per day) to 120,000 TPD, and is expected to significantly increase revenue, the comppany said in a statement.
