Essar Ports, which runs two facilities at Vadinar and Hazira in Gujarat with an aggregate capacity of 88 mn tpa, plans to raise the capacity to 158 mn tpa.

   Besides, the company also plans to set up a new port at Salaya in Gujarat and two terminals at Paradip in Orissa.

   Essar Ports is also awaiting the results of its bid for a Rs 4,000-crore container terminal project in Chennai, after the project got a go-ahead from the union home ministry.

   Rajiv Agarwal, Managing Director of Essar Ports said the company does not have any other capital expenditure plans besides the above.

   Agarwal added the company’s iron ore terminal at Paradip is completed and should start by the end of the month. The company is said to have invested Rs 520 crore for the iron-ore berth project. It had bagged the 30-year concession BOT order in 2009 from the Paradip Port Trust. The company has a debt of Rs 5,601 crore as on September 30.

   Regarding refinancing of debt, we will keep exploring. At the moment, we don’t have anything on the cards,” he said, adding that the company would be relieved if the interest rates come down.

   Essar Ports, which was formed last year through the demerger of erstwhile Essar Shipping Ports & Logistics, also undertook the take out financing scheme of the government through India Infrastructure Finance and refinanced Rs 405 crore of its debt for the Hazira Port in Gujarat. This has brought down its interest cost by 2.65 percent for the amount.