Essar Ports has received regulatory approval to execute four port projects that were stuck for several years amid pending approvals and lawsuits. Earlier, the company had spent Rs. 8000 crore in expansion .The Company is planning to spend another Rs. 3000 crore in the next three years to complete these projects. The projects will increase cargo handling capacity by 77 million tonnes per annum to the 181 mt capacity.
On the west coast, construction of a dry bulk terminal at Salaya received stage 1 forest clearance, while expansion of the cargo terminal at Hazira got the final go ahead from the environment ministry.
On the east coast, construction of a coal terminal at Paradip Port trust is expected to start soon with the Supreme Court dismissing all the petitions filed by port users occupying the land. The High Court of Andhra Pradesh also dismissed court cases by labour unions against the two-phase modernization and construction of iron-ore berths in Vizag by Essar Ports.
Essar Ports is one of the largest port companies of India, with a current capacity of 104 MMTPA. The capacity is being expanded to 181 MMTPA over the next few years. Essar Ports has three operational terminals at Hazira, Vadinar and Paradip.
Company Name | CMP |
---|---|
Shipping Corpn. | 231.50 |
GE Shipping | 1082.00 |
Dredging Corp | 831.30 |
Shreyas Shipping | 306.00 |
Seamec | 1106.95 |
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