Essar Ports gets shareholders’ nod to raise up to $1 bn

New Delhi : Private sector port operator Essar Ports (EPL) said shareholders have approved its proposal to raise up to $1 billion through securities from domestic and international markets to fund expansion plans. One of the country’s largest port operators, EPL plans to increase its cargo handling capacity from 104 million tonnes per annum (MTPA), at present, to 194 MTPA. Last month, EPL had said its operating capacity is expected to increase to 140 MTPA by March 2016 and 194 MTPA by 2018. The total capital invested till date is around Rs 10,000 crore.