Essar group eyes forays into clean energy, infrastructure, IT solutions

The Essar Group plans to rearrange its priorities to focus on four major verticals like energy, infrastructure and logistics, technology and retail, as well as metals and mining.

Speaking to IANS on the sidelines of the India Energy Week, which was held in Bengaluru between February 6 to 8, Essar Capital Director Prashant Ruia informed that the company has outlined a blueprint focussing on the above mentioned sectors.

In the energy sector, the company has envisioned a 10 million tonnes per annum refinery in the UK, a 1,200 MW power plant in India, and 15 trillion cubic feet of unconventional hydrocarbon reserves in India and Vietnam.

In addition to this, a 50:50 joint venture between Essar and ArcelorMittal Nippon Steel India for setting up a 4 million tonnes per annum LNG import facility at Hazira is also in the pipeline, which would be made public after seeking relevant approvals, Ruia added.

He also informed that a green ammonia plant will also be set up in India, which will be exported to its refinery in the UK.

Keeping itself focussed on metals and mining sector, Ruia further said that the company plans to set up one project each in the US, Saudi Arabia and in Odisha.

The Essar Group aims to set up an integrated flat steelworks plant in Saudi Arabia over a span of three years. In Odisha, it plans to set up a 14 million tonnes per annum export oriented pelletising complex, which would consist of an iron ore fines beneficiation plant at Keonjhar, a pellet plant at Paradip port and a 250 km-long slurry pipeline, Ruia added.

--IANS

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