Essar Group’s EBTPL inks license agreement with Paradip Port Trust

India-based Essar Group has announced that integrated logistics solution provider having investment in ports and terminals EBTPL, a part of its subsidiary Essar Shipping Ports and Logistics Ltd. (ESPLL), has signed a license agreement with Paradip Port Trust for the mechanization of Central Quay - III berth with capacity to handle 16 million metric tons per year of dry bulk cargo at Paradip Port, Orissa on the east coast of India. EBPTL will handle both third party and captive cargo at the berth. The license is for a period of 10 years, extendable by another five years with mutual consent.
 
This is the second port project of ESPLL with Paradip Port Trust for handling third party cargo. Earlier, ESPLL was awarded the project for development of a 14 million mt per year deep draught coal berth at Paradip Port on build-operate-transfer basis for a concession period of thirty years with a project cost of Rupees 5.6 trillion for handling third party cargo.
 
Speaking at the signing ceremony of this agreement, Essar Group director Mr. K. K. Sinha said, "We are extremely happy to partner Paradip Port Trust yet again in enhancing the cargo handling capability of the port. Paradip Port is strategically located to fulfill the rapidly growing dry bulk cargo requirements of the steel and power industries in the region."