Essar plans Rs 10,000 crore port in Gujarat

TIL Desk/Business/New Delhi-Essar Ports Ltd, a leading ports operator in the country with a capacity of 140 million tonnes per annum (mtpa), is planning to build a Rs 10,000-crore greenfield commercial port at Dwarka in Gujarat, a senior company official has said. Besides, with the modernisation project at its Visakhapatnam port expected to be completed by September, the company expects 50 per cent growth in cargo from this port.

Chief executive officer and managing director Rajiv Agarwal confirmed the company has signed a memorandum of understanding (MoU) with the Gujarat Maritime Board (GMB) which administers and regulates the 41 state-owned non-major ports of Gujarat, during the Vibrant Gujarat Summit this January.

“We signed a MoU during the summit in this regard. Work on a detailed project report is on. We are now working on approvals for the project, which might take some time,” he told. An investment of more than Rs 10,000 crore (Rs 100 billion) is planned for the project, which would employ an estimated 1,000 people.