Essar Ports wins Visakhapatnam bid
Private port company, Essar Ports Limited (EPL), through its wholly owned subsidiary, Vadinar Oil Terminal Ltd, has won a bid for the development of three iron ore berths at India’s Visakhapatnam Port on a build-operate-transfer (BOT) basis.
EPL quoted 31.01% revenue shares for mechanisation and operation of two outer harbour berths and one inner harbour berth for a concession period of 30 years.
“This will add to our continuous efforts towards developing modernised world class terminals and serve new customers,” said Rajiv Agarwal, managing director, Essar Ports Ltd. “This project will significantly increase the efficiency of Visakhapatnam Port thereby increasing its competitiveness and facilitating industrial growth in the region,” he added.
The company says iron ore export and coastal movement through the east coast of India will boost third party cargo handling and revenue of EPL as it will handle 17 million tonnes per annum (MMTPA) of third party cargo and six MMTPA of Essar Steel cargo.
The three berths, which will have a combined capacity of 23 MMTPA, will bring the company’s iron ore export on the east coast to 39 MMTPA.
The outer harbour berths will be capable of berthing super capesize vessels of 200,000 tonnes, while the inner berth will be capable of berthing Panamax vessels of 80,000 tonnes.
EPL will start operation of the two outer harbour berths in the next three to four months.
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