Essar Ports, one of the largest private sector port companies in India and part of the $27 billion Essar Group is planning to expand capacity by up to 150 million tonne per annum at two of its ports in Gujarat. In this regard, the company will invest Rs 10,000 crore over the next 10 years in these two ports.
Recently, the company signed an agreement at the recently concluded Vibrant Gujarat summit with the government to expand capacities at the Hazira and Salaya ports. The company will build five berths at Salaya to handle liquid, solid bulk and container traffic and increase the water front at Hazira by 3 km as part of the agreement.
The company, on consolidated basis, posted growth of over two-fold in its net profit at Rs 90.42 crore for the quarter as compared to Rs 44.98 crore for the same quarter in the previous year. Total income of the company increased by 34.58% at Rs 365.97 crore for quarter under review as compared to Rs 271.94 crore for the quarter ended December 31, 2011.
