Essar Ports enter agreement with Visakhapatnam Port for iron ore berth development

  • Three berths with a 23 MMTPA capacity to be built at Indian port within three years

Essar Vizag Terminals, a subsidiary of Indian terminal operator Essar Ports, has entered into a 30-year concessionary agreement with Visakhapatnam Port Trust for three new iron ore berths at the Indian port on a build, operation and transfer (BOT).

The three berths, combining two outer harbour berths and one inner harbour berth, will have a combined capacity of 23 million metric tonnes per annum (MMTPA) and will be developed at a cost of Rs 1200 crore over a period of three years.

Essar Ports will take over the two outer harbour berths soon and the operation and upgrade of the terminal will happen simultaneously.

“We will develop the terminal to create one of the most competitive, modernized, world class facilities,” said Essar Ports’ managing director Rajiv Agarwal.

“This project will significantly increase our third party cargo handling capacity and also boost our presence in the east coast.

“Iron ore export traffic at Vizag will increase substantially due to the competitiveness of this terminal which will facilitate industrial growth in the region.”

This project will increase Essar Ports’ total capacity for iron ore export on the east coast to 39MMTPA.

The concession agreement was signed at a ceremony in Chennai in the presence of GK Vasan, minister of shipping as the chief guest, Dr Vishwapati Trivedi, secretary, ministry of shipping and RPS Kahlon, chairman, Visakhapatnam Port Trust.

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