/ Essar Port to invest $70 million for expansion at Hazira facility ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 13 July 2018

Essar Ports is targeting to invest $70 million for expansion at its Hazira facility by September 2020. This will include $20 million for the remaining works under $450-million first phase of expansion and $50 million for the second phase that seeks to create ancillary facilities.

The first phase focuses on building the jetty which will be done by March 2019, while the second phase focuses on erecting ship unloaders, conveyor belt, etc, which will take 18 months after the end of phase-I to complete. The company has tied-up finances for the phase-I largely through internal accruals and debt, it is yet to raise the same for the second phase

Essar Ports is engaged in the business of providing end-to-end logistics services with investments in ports and terminals, logistics services, sea transportation and oilfield drilling services.

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