India: Essar Ports Posts 23% Growth in Cargo Handling in FY'20
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Essar Ports reported 49.22 MnT cargo handling in the year FY'20 which is 23% higher than the previous year, the company said in a statement today.
In terms of fourth quarter performance, the terminals recorded 4.63% growth in cargo, with a throughput of 11.08 MnT, it said.
Hazira terminal handled 25.42 MnT cargo, up by 6.32% Y-o-Y, while Vizag terminal saw a rise of 34.06% in cargo handling of 12.87 MnT in FY'20.
Annual performance : FY20 vs FY19
| Terminals | FY20 | FY19 | Y-o-Y (%) |
| 50 MnTPA Hazira Terminal | 25.42 | 23.91 | 6.32 |
| 24 MnTPA Vizag Terminal | 12.87 | 9.6 | 34.06 |
| 20 MnTPA Salaya Terminal | 5.96 | 2.15 | 177.21 |
| 16 MnTPA Paradip Terminal | 4.97 | 4.21 | 18.05 |
| Overall | 49.22 | 39.87 | 23.5 |
Fig in MnT
Source: Company Release
Speaking on the performance, Mr Rajiv Agarwal, MD & CEO, Essar Ports Ltd, 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. While the mitigation measures adopted to control the Covid-19 outbreak have given rise to several limitations, the high mechanization at our facilities have enabled them to continue to operate and service customers, thus allowing them to meet the cargo handling requirements of the nation."
