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Essar Ports chalks out plan to bring back its margins post Vadinar sale

Company eyes Rs 1,700 crore EBITDA by FY19 via capacity expansion at all terminals

Aditi Divekar  |  Mumbai 

As the Ruias bid farewell to their 58-million-tonne Vadinar oil terminal by end of 2017, Essar Ports has chalked out a sturdy two-year plan to make up for the earnings loss from this asset.  In October, Essar Group signed a deal with Russia’s Rosneft and partner consortium to sell their 98 per cent stake in Essar Oil. The $12.9 billion deal included the Vadinar refinery along with its port facility in Gujarat. The Vadinar port terminal has been contributing 50 per cent to Essar Port's consolidated topline and forms about one-third of the EBITDA of its port ...

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First Published: Wed, May 03 2017. 00:38 IST
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