Essar Ports eyes 2-fold spike in traffic handling by 2015

Essar Ports targets to more than double its cargo handling to 125 million tonne by 2015. The company expects to close FY12 with 46 million tonne traffic handling and plan to raise that to 125 million tonne by 2015.  Around 5% of the 46 million tonne will be non-captive traffic, or business emerging from outside the Essar Group companies. However, by 2015, the port is targeting it to take the external business to 25%. The company, operating two ports at Hazira and Vadinar in Gujarat, plans to commission the first phase of its new facility at Paradip in Orissa by next March. It is awaiting a nod from the State Forest Department for the second berth, which will be handling coal. The first terminal in Paradip would have a capacity of about 16 million tonne while the second is 50 million tonne terminal.