Essar Port's Vizag Terminal registers 45% cargo growth

Mumbai, Aug 1 (IANS) Essar Vizag Terminal Ltd (EVTL), which operates the 24 MT (million tonne) Vizag terminal, on Thursday announced a 45 per cent growth in overall cargo throughput in the quarter ended June 2019 on a year-on-year basis."The significant growth in overall cargo was primarily driven by a sharp rise in third-party cargo, with volume more than tripling when compared with the corresponding quarter in FY 2018-19," the company said in a statement.Cargo volumes from the anchor customers increased by 5.6 per cent over the same period and the share of third-party cargo in the overall cargo volumes grew to 40.6 per cent, it said."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," it said.Having clocked a throughput of 40 MT in FY19, Essar Ports is expecting to handle over 60 MT in the current financial year.
--IANS rrb/vd