Essar unveils Rs.10,000-cr port project

    Essar Port
    In an attempt to expand its portfolio in the port sector, Essar Port, a leading port operator in the country, is currently contemplating to build a Rs.10,000 crore greenfield commercial port at Dwarka in Gujarat, CEO and Managing Director, Rajiv Agarwal said, claiming that in this connection, the company has signed a memorandum of understanding (MoU) with Gujarat Maritime Board (GMB) which administers and regulates the 41 state-owned non-major ports of Gujarat during the Vibrant Gujarat Summit. The preparation of DPR is currently underway and the company is working on approvals for the project, which would be Essar's first commercial port in India, as it currently operates ports which are largely for captive cargo. It currently operates five ports in the country in Hazira (Gujarat), Paradip (Odisha), Visakhapatnam (Andhra Pradesh), Salaya and Vadinar (Gujarat). In fact, Essar's port terminals recorded a 25% growth in cargo traffic in FY 2016-17. The consolidated cargo handling across the company's five operational ports has gone up to 72.86 million tons in the just concluded financial year as compared to 58.27 million tons in the preceding fiscal, he said.
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