Essar Vizag Terminal clocks 45 pc growth in overall cargo in Q1

Essar Ports Thursday said its arm Essar Vizag Terminal registered 45 per cent growth in overall cargo at 3.2 million tonne during the quarter ended June 30.

"Essar Vizag Terminal Ltd, that operates the 24 MT Vizag terminal...announced a 45 per cent growth in overall cargo throughput in the quarter ended June 30, 2019," Essar Ports said in a statement.

The growth in overall cargo was primarily driven by a sharp rise in third-party cargo, as the volume more than tripled when compared with the corresponding quarter of 2018-19.

The third-party cargo volume increased to 1.1 MT in first quarter of ongoing fiscal from 0.4 MT in June quarter 2018-19, it said.

Cargo volumes from the anchor customer increased 5.6 per cent over the same period.

"Competitive advantage through the high degree of mechanisation at the terminal and the state-of-the-art cargo handling equipment that helps ensure rapid turnaround times have been the key drivers for attracting new clients," the company said.

Essar Ports is one of country's leading private sector ports and terminal developers and operators.

Vizag terminal is India's largest integrated iron ore handling complex located on the outer harbour of Visakhapatnam Port, the company said.