Essar Ports cargo handling jumps over 23 pc to 49.22 MT in 2019-20

Essar Ports on Wednesday said its cargo handling grew over 23 per cent to 49.22 million tonnes (MT) in 2019-20.

Essar Ports is one of the country's largest private sector port and terminal developers and operators and claims to have invested Rs 11,000 crore in developing world-class terminals in three states.

"Essar Ports' business, which operates four terminals on the east and west coasts of India, has registered a 23.5 per cent growth in cargo volumes in FY 2019-20, with a throughput of 49.22 million tonne (MT)," the company said in a statement.

In terms of their fourth quarter performance, the terminals recorded a 4.63 per cent growth in cargo, with a throughput of 11.08 MT, it said.

Essar Ports MD and CEO Rajiv Agarwal said, "Our focus on driving operational efficiencies and optimising operations has helped in recording strong growth. The heightened activity in the Indian economy has helped us consistently surpass the average sectorial growth rate."