Essar Ports reports 17.4% growth in cargo volume across 4 terminals in Q1FY20

21 Aug 2019 Evaluate

Essar Ports has reported a 17.4 percent growth in cargo volume across its four terminals at 13.5 million tonne during the June quarter of the current fiscal year (Q1FY20).

The company's first quarter cargo handling performance has been very strong and brought it closer to achieving its target throughput by the end of the current financial year (FY20). Higher capacity utilisation at company’s recently commissioned terminals at Salaya and Vizag and an increase in third-party cargo will help the company achieve its target of handling 60 million tonnes of cargo by March 31, 2020.

Essar Ports is engaged in the business of providing end-to-end logistics services with investments in ports and terminals, logistics services, sea transportation and oilfield drilling services.The company provide its services to industries like oil and gas, steel and power generation. 

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