HYDERABAD/CHENNAI:Essar Vizag Terminal Ltd (EVTL) on Thursday commissioned its iron ore handling complex in Visakhapatnam, deemed to be India’s largest, built with an investment of Rs 830 crore.
This iron ore handling facility will have the fastest vessel turnaround time for iron ore among Indian ports. After completion of the project, the cargo loading capacity of the unit has been upgraded to 24 MTPA. It can now berth super capesize vessels up to 200,000 DWT, with a depth of 20 metres, on Vizag Port’s outer harbour.
“We are committed to realising the Government’s vision of port-led development. The project will help exporters on the east coast benefit from shorter turnaround times and reduced freight costs. The facility will support both export and coastal traffic, furthering the vision of the Sagarmala initiative,” said Prashant Ruia, Director, Essar.
EVTL took over the project in 2015 on a Design-Build-Finance-Operate-Transfer basis for a period of 30 years. The iron ore handling unit is an all-weather, deep draft facility that is equipped to serve the rapidly growing markets of Southeast Asia, including China, Japan, and Korea. It has a dedicated rail connectivity for cargo evacuation from the states of Chhattisgarh, Odisha and Jharkhand.