We have committed $600 miilion for fleet expansion: Essar Shipping

When it comes to a fleet expansion, what is the kind of amount you are looking to spend?

$600 million as of now committed capex on this one.

How are you seeing business coming into the ports that you operate in?

We are already running a crude oil terminal at Vadinar. We have ordered to commence dry bulk port at Hazira in about a month from now. We are putting up a coal berth at Salaya near Jamnagar and we will also be booting up a coal based facility at Paradip and we are looking at bidding for all ports India on the BOOT basis where the government is intending to privatise these ports. So a lot of opportunities in the port side.

We have these group cargos which have given us the impetus to build up management bandwidth and expertise running ports. So this gives us a huge platform to add to our port business. So there is a lot of opportunity here, lot of trade, lot of investments in the East Coast and West Coast which will require lot of investments for the ports sector. We are fully geared up to meet the challenges come the next three to five years horizon.