Essar's facilities at Hazira port is one of a number of operations that have been ramping up Essar Shipping Ports & Logistics Ltd (ESPLL) is to split itself into two businesses under the ESPLL parent: Essar Ports and separately Essar Shipping. The demerger, says ESPLL, will create focussed businesses that will have the ability to plan their own growth. The company has become India’s second largest private port owner and operator.
It has, at present, a 76m tonne per annum operational capacity and plans to increase this to 158m tonnes by April 2013 with additional capacity at Hazira, Paradip and Salaya. Further, the company is actively bidding for upcoming public-private port projects in the region.
ESPLL was originally set up in 1970s as a shipping company, and has incubated the ports, oilfields services and the logistics business over the last five years. The company said that the ports side of its business has now become a mature entity: it is of substantial size and is gearing to embark on its own growth trajectory.
In order to action the divide, ESPLL will transfer the logistics and oilfield businesses to a wholly owned subsidiary: in consideration the resulting company will issue one equity share for every three owned by the parent company shareholders.
In addition, the board has also approved a proposal for amalgamation of two of its wholly owned investment subsidiaries into ESPLL, for simplification of the holding structure. The appointed date for the merger is close of business on September 30, 2010
It has, at present, a 76m tonne per annum operational capacity and plans to increase this to 158m tonnes by April 2013 with additional capacity at Hazira, Paradip and Salaya. Further, the company is actively bidding for upcoming public-private port projects in the region.
ESPLL was originally set up in 1970s as a shipping company, and has incubated the ports, oilfields services and the logistics business over the last five years. The company said that the ports side of its business has now become a mature entity: it is of substantial size and is gearing to embark on its own growth trajectory.
In order to action the divide, ESPLL will transfer the logistics and oilfield businesses to a wholly owned subsidiary: in consideration the resulting company will issue one equity share for every three owned by the parent company shareholders.
In addition, the board has also approved a proposal for amalgamation of two of its wholly owned investment subsidiaries into ESPLL, for simplification of the holding structure. The appointed date for the merger is close of business on September 30, 2010