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The Essar group’s ports business, which operates four terminals on the east and west coasts of India, has registered a 23.5% growth in cargo volumes in the financial year 2019-20, achieving a total throughput of 49.22 million tonnes. There was, however, a relative slowdown in the fourth quarter, when Essar terminals recorded a 4.63% growth in cargo throughput.
The Hazira Terminal, where capacity is now 50 million tonnes a year, handled 25.42 million tonnes in the financial year, 6.32% higher than in 2018/19. Its terminal at Visag achieved a 34.06% increase, handling 12.87 million tonnes, while Paradip achieved a cargo throughput of 4.97 million tonnes, 18.05% higher than the previous financial year. The fastest growing of its four facilities, however, was the Salaya terminal, which achieved a stunning 177% rise, from 2.15 million tonnes to 5.96 million tonnes.
Speaking about the performance, Rajiv Agarwal, Managing Director and Chief Executive, said, “Our focus on driving operational efficiencies and optimising operations has helped in recording strong growth, along with heightened activity in the Indian economy.”
The ongoing lockdown in India is inevitably going to impact on performance in the first quarter of the 2020/2021 financial year, but Essar is optimistic that the impact will be minimised as a result of recent investments in its terminals. Agarwal says, “While the mitigation measures adopted to control the Covid-19 outbreak have given rise to several limitations, the high levels of mechanisation at our facilities have enabled them to continue to operate and service customers, allowing them to meet the cargo handling requirements of the nation.”
