Essar Ports Hazira Allows Third-party Cargo
Essar Bulk Terminal Limited, Hazira, a subsidiary of Essar Ports Limited, which is a part of Essar, has received an approval from Gujarat Maritime Board (GMB) to handle 15 million tonnes of merchant cargo over three years. Based on this approval, the Hazira Terminal, in keeping with its design and capabilities, will be able to handle a range of cargo for merchant customers, including dry bulk, liquid bulk, containers and so on. The approval was granted under GMB’s captive port policy where jetties built on captive licenses can handle third-party cargo up to a maximum of 50 percent of the total cargo handled. This approval stands to benefit the local industry who will now have access to a modern port facility.
ABG Shipyard to Expand Capacity
India’s ABG Shipyard Ltd plans to invest to expand capacity to meet the rising global demand for building large cargo carrying ships. After the expansion, the company hopes to build large size ships, including very large crude carriers (VLCCs) at its shipyard located at Magdalla Port in Surat, Gujarat, said Rishi Agarwal, managing director of ABG. A VLCC can typically carry as much as 320,000 tonnes of crude oil. ABG is currently building its second shipyard across 40 acres at Dahej in Gujarat at a cost of Rs950 crore. The first phase of the project will give the company facilities the ability to build eight ships simultaneously, with each ship having a capacity of 120,000 tonnes. These ships will meet growing demand in the dry bulk (cargo) segment.
ABG to Acquire Vipul Shipyard
ABG Shipyard Limited has signed a Memorandum of Understanding (MOU) for acquisition of Vipul Shipyard (Vipul) situated adjacent to the Company’s existing shipyard at Magdalla Port, District- Surat, Gujarat. With this ABG will add substantial land with a good water front to its resources along with slipway and other necessary plant & equipment for shipbuilding. This acquisition would facilitate further expansion of ABG’s shipbuilding activities at the above shipyard and would enable ABG to enhance its shipbuilding capacity from the present 32 to 40 vessels on modular basis in future. This acquisition will facilitate the optimal use of resources in ABG’s existing shipyard & new facility to synergise productivity and achieve economies of scale. Source : Moneycontrol.com
