Essar Ports to invest USD 500 million over next two years – Feedback

Essar Ports will invest about USD 500 million over the next two years to expand its ports business.Company has opened new facilities at Salaya in Gujarat and Visakhapatnam Port in Andhra Pradesh.

Essar Ports has pumped in Rs 2,830 crore to set up the greenfield 20 MT general cargo terminal at Salaya and the 16 MT mechanised iron ore facility at Visakhapatnam, helping the company raise cargo handling capacity to 90 MT.New investment will help expand its Hazira facility by 20 MT; Vizag facility by eight MT; build an 18 MT coal terminal at Paradip; a greenfield port in Mozambique; and set up a container terminal and liquid cargo berths to handle LNG and LPG at Salaya.

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