Essar Group

Vertex Hydrogen project will support UK government's net zero ambitions, says company

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Setting up steel plant in Saudi, an iron pellet plant each in Odisha, US

Will invest $1.2 bn to develop a global supply hub for low-carbon fuels

"The project will be funded through both debt and equity and we will approach banks in India and abroad for debt"

India's Essar Group plans to set up a 400 billion rupee ($4.92 billion) petrochemical complex in the eastern state of Odisha in a tie-up with a global player, it said in a statement on Thursday

In order to complete its asset monetisation drive to effectively become debt free, Essar Ports & Terminals Ltd (EPTL) and Essar Power Ltd (EPL) on Monday concluded the $2.05 billion (Rs 16,500 crore) sale of captive ports and power assets located in Hazira and Paradip to Arcelor Mittal Nippon Steel India Ltd (AM/NS).

The transaction, fully funded by AM/NS India, includes two port assets and a power plant which are now wholly-owned and operated by it

The port and power assets are primarily captive to AM/NS' Hazira steel plant in Gujarat, will expand firm's footprint and operating efficiencies

The Competition Commission of India on Thursday approved acquisition of assets of Essar Group by ArcelorMittal Nippon Steel India Ltd.

The Essar Group is looking to invest USD 4 billion in setting up an integrated flat steelworks plant in Saudi Arabia in the next three years, a senior company official said. The plant, which will cost Saudi Riyal 15 billion (USD 4 billion), is scheduled to break ground by this year-end and be completed by the end of 2025, said Amar Kapadia, general manager for corporate planning at Essar. The new 4-million tonnes per annum integrated flat steelworks plant will have continuous casting and hot strip capacity, 1-million tonnes of cold rolled coil capacity, and a tin plate line in Ras Al-Khair Industrial City on Saudi Arabia's east coast. The new facility will also have two direct reduced iron plants, each with a 2.5-million tonnes a year capacity. Essar signed a memorandum of understanding with the Saudi Arabia's National Industrial Development Centre (NIDC) in October 2021, and an agreement with the Royal Commission for Jubail and Yanbu (RCJY) for land allocation in December. "We ha

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The ownership of port assets had been in courts since 2020 after AM/NS India moved the Gujarat High Court

The storied bank hopes to put its troubles behind it with its impending IPO

The joint venture, Vertex Hydrogen, will produce 1 gigawatt (GW) of hydrogen per year from two units from 2026, Essar said

Essar Group in partnership with clean energy specialist Progressive Energy will invest 750 million pound to build the UK's biggest low carbon hydrogen production hub

AGC Networks Limited, a part of Essar Group, on Monday said it has raised Rs 225 crore through issuance of convertible warrants to promoters and promoter group of the company

Both Refap and Repar are located in Brazil's southern region and have a production capacity of 200,000 barrels per day each

Essar Steel owns a 10 million tonnes per annum steel plant at Hazira in Gujarat, which is serviced by a captive jetty constructed at port.

In a recent note to clients, analysts from Bradesco BBI valued the RLAM refinery, based in the northeastern Brazilian state of Bahia, at $2.5 billion