Visakhapatnam, July 13 : The Essar Group subsidiary Essar Vizag Terminal Ltd (EVTL) said on Friday that it has commissioned the India's largest iron ore handling complex at Visakhapatnam port built at a cost of Rs 830 crore.
The iron ore complex with a capacity of handling 24 million tonne per annum (mtpa)on the outer harbour of Vizag port was inaugurated on Friday by Union Road Transport and Shipping Minister Nitin Gadkari, Essar said in a statement here.
"With its state-of-the-art cargo handling equipment, the iron ore handling complex will have the fastest vessel turnaround time for iron ore among Indian ports," it said.
"Following the project completion, the cargo loading capacity of the facility has been upgraded to 24 million tonne per annum. The iron ore handling complex can now berth Super Capesize vessels up to 200,000 deadweight tonnage (DWT), with a depth of 20 metres," it added.
According to Essar, the complex is an all-weather, deep-draft facility equipped to serve the rapidly growing markets of South-East Asia, including China, Japan and Korea.
It has dedicated rail connectivity for cargo evacuation from the states of Chhattisgarh, Odisha and Jharkhand, the statement said.
EVTL took over the project in 2015 on a design-build-finance-operate-transfer (DBFOT) basis for a period of 30 years.
Commenting on the development, Essar Ports MD Rajiv Agarwal said in a statement: "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," he added.