Essar Ports has completed its Rs 28 billion planned investment in its Vizag and Salaya terminals. The company plans further investments to increase its capacity to 150 million tonne per annum (MTPA) in the next two years time. According to the company, its investment of over Rs 28 billion in its Salaya and Vizag terminal projects has the potential to increase the company?s revenues by 30 per cent in financial year 2018-19 on the back of third-party cargo growth.

With the current investments made, the company expects its operational capacity would stand at 110 million tonne per annum in the current calendar year. In addition, the company will also look at further expansion opportunities.

The company said further plans for setting up new facilities to handle dry bulk, liquids and liquefied natural gas (LNG) at Salaya is at a stage of approval. These plans are expected to entail an investment of Rs 50-100 billion.

The company added its last investment cycle of Rs 28 billion is now complete. Of the Rs 28 billion, the company invested close to Rs 20 billion to develop a dry-bulk terminal at Salaya and another Rs 8.3 billion for upgrading the iron ore handling capacity of the Vizag terminal.