July 19, 2017: Essar Ports is reportedly set to invest Rs 550 crore on Hazira Port by March 2018. The investment would increase the port’s cargo handling capacity by 20 million tonne per annum.
According to sources, the funds will be used to expand the 500 metre berth to 1,100 metres.
The total capital expenditure by the company from the diversified group will go up to Rs 10,500 crore with this expansion.
Essar Bulk Terminal, the operator of the Hazira Port Terminal facility, has inked a deal with the Gujarat Maritime Board (GMB) for more than doubling its captive jetty to 1,100 metres, the company said in a statement.
The expansion is to be completed by the end of next March and will increase the capacity by 20 mt per annum, it said, adding this will help its anchor customer Essar Steel and also third-party cargo handling.
The company also says that total cargo handling at the port is likely to cross 25 million tonne in the year as Essar Steel's production is likely to surge further during FY18.