Essar to set up port in Gujarat at Rs 10,000 crore

Essar Ports Limited is planning to build a Rs 10,000 crore greenfield commercial port in Gujarat’s Dwarka.

According to Rajiv Agarwal, CEO and managing director of Essar Ports Ltd, with the company’s modernisation project at its Vishakhapatnam port likely to be completed by September, they expect 50 per cent growth in cargo from the port.

Rajiv told Business Standard that the company has signed a memorandum of understanding (MoU) with Gujarat Maritime Board (GMB) which administers and regulates the 41 state-owned non-major ports of Gujarat during the Vibrant Gujarat Summit in January this year.

“We have signed an MoU during the Vibrant Summit in this regard. Work on a detailed project report (DPR) is on. We are now working on approvals for the project, which might take some time,” he said.

Image Credit : livemint.com

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