Essar

Essar Group appoints Manu Kapoor to lead global public policy strategy

Manu Kapoor is an established leader with a successful career managing corporate reputation and brands across the Middle East, Africa, Central Asia, Eastern Europe, and Asia

UK clears Essar's $2.4 bn energy transition project helping carbon economy

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

Essar group returns to steel business with $8-billion investment

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

Essar Group bets $3.6 billion on decarbonisation in India and UK

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

Vertex Hydrogen to supply over 1,000 MW of hydrogen to UK industries

Vertex Hydrogen is a leader in the energy transition, developing the UK's first large scale, low carbon hydrogen production hub at Essar's site in Ellesmere Port

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

Essar on a new path of growth, to invest in energy, steel, mining sectors

Armed with substantially lighter balance sheet after repaying Rs 2 lakh crore debt, Essar is embarking on the next phase of growth by investing in hydrogen projects, building LNG import facility and retail chain, and setting up steel plants. Prashant Ruia, director, Essar Capital Ltd, said Essar currently owns businesses in the core sectors of energy, metals and mining, infrastructure, services and technology and its future plans centre around them. It is looking to set up steel plants in Odisha and Saudi Arabia and a facility to import liquefied natural gas (LNG) at Hazira in Gujarat. In the UK, where it owns an oil refinery, the group is setting up a blue hydrogen plant and is exploring opportunities to set up a green ammonia unit in India. Essar has set up a unit to retail LNG to trucks and will set up a chain of outlets dispensing the environment-friendly fuel. "We have completed what is certainly the one of the biggest, if not the biggest, deleveraging exercise by repaying Rs

Tata Chemicals Europe, Vertex sign low-carbon hydrogen offtake agreement

Vertex will supply TCE with hydrogen as the manufacturer continues to decarbonise its operations in the UK with a target of achieving "net zero" manufacturing by 2030

Essar concludes $2 bn sale of captive port, power infra assets to AM/NS

Ruia family-run Essar group on Monday said it has concluded the sale of captive ports and power assets located at Hazira in Gujarat and Paradip in Odisha to Arcelor Mittal Nippon Steel India Ltd (AM/NS) for USD 2.05 billion (about Rs 16,500 crore). With the sale, Essar has completed its asset monetisation programme to effectively become debt free. "Essar Ports & Terminals Ltd (EPTL) and Essar Power Ltd (EPL) today concluded the USD 2.05 billion sale of captive ports and power assets located in Hazira and Paradip to AM/NS," it said in a statement. The sale consisted of infra assets including a 270 MW power plant and 25 million tonnes per annum port at Hazira, Gujarat, and a 12 million tonnes a year port at Paradip, Odisha. Prashant Ruia, Director, Essar Capital, said, "Essar has concluded its asset monetisation programme and completed the debt repayment of USD 25 billion (Rs 2 lakh crore) effectively making the group debt-free from Indian banks and financial institutions". Essar ..

Essar Constructions bags Rs 97 cr contract from Jindal Stainless: Report

Essar Constructions India Ltd (ECIL) , the Indian arm of Essar Projects, on Friday said it has added Jindal Stainless as its client, by winning a Rs 97-crore contract. The order is for mechanical works for blast furnace at Jajpur, the firm said in a social media post. Speaking on the occasion, Sejal Jani, Head - Business Development, Tendering & Estimation, ECIL said, "As we take gradual steps towards building a robust order book, widening the portfolio of clients has also been of importance." While the firm reaches out to showcase its capabilities and connect with new clients, it fully acknowledge that efficient execution was crucial to uphold its image in the market. "ECIL has been strengthening its foothold in the minerals and metals domain. Time and cost effective deliveries of orders won during the past one year has not only led to repeat orders, but also enhanced overall market confidence, leading to opening of new doors," he said. Formed in May 2017 to pursue EPC business .

AM/NS India to acquire infra assets from Essar Group for $2.4 billion

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

Essar signs $2.4 billion deal to sell ports business to ArcelorMittal

Essar Group on Friday announced a USD 2.4 billion (Rs 19,000 crore) deal to sell its ports business to Arcelor Mittal Nippon Steel Ltd. In a statement, Essar said it has signed definitive agreements with ArcelorMittal Nippon Steel for certain ports and power infrastructure assets which are primarily captive to Hazira steel plant operations. "The deal also envisages a 50-50 Joint Venture partnership, for building a 4 MTPA LNG terminal at Hazira, Gujarat, between Essar and ArcelorMittal," it added.

What makes Essar steel sector's comeback kid amid insolvency proceedings

The $5.7-billion acquisition that closed after an 865-day-long saga was the largest private sector transaction in India in 2019 and the second-largest steel transaction globally that year

Cargo handling by Essar Vizag port up by 10% YoY to 1.3 mn tonnes in Apr

Surge in traffic marks the uptick in Indian steel sector, a major contributor to India's manufacturing output

Essar sets up Vertex Hydrogen to help drive energy transition in UK

The UK's first low carbon hydrogen facility at Essar Stanlow will sit at the heart of the HyNet low carbon cluster, to produce a total of 1GW per year of hydrogen, across two units, from 2026

Adani Power completes acquisition of Essar's 1,200 MW Mahan project in MP

Adani Power on Wednesday said it has completed the acquisition of Essar Power's 1,200 MW thermal power project in Mahan, Madhya Pradesh. The cost of acquisition of Essar Power M P Ltd, which is undergoing insolvency resolution, is over Rs 4,250 crore, including estimated cost of compliance with environmental and emission norms, it said in a regulatory filing. "Adani Power Limited has completed today the acquisition of 100 per cent of paid up share capital and management control of EPMPL (Essar Power M P Ltd), a company undergoing insolvency resolution under the Insolvency and Bankruptcy Code," it said. EPMPL owns a 1,200 MW thermal power plant in Singrauli District, Madhya Pradesh. In June 2021, Adani Power had emerged as the successful bidder for the 1,200 MW project.

Essar sets up Vertex Hydrogen to help drive energy transition in the UK

Essar Oil UK holds 90 per cent stake in Vertex Hydrogen, while Progressive Energy Ltd has the remaining 10 per cent

Essar jointly invests $300 million in Vietnam's offshore hydrocarbon block

This block is the largest hydrocarbon find in South East Asia spanning two decades and has approximately 2 billion barrels of oil and gas resource

Essar to develop Stanlow terminal into UK's largest biofuel storage hub

STL already provides biofuels storage capacity for customers through a dedicated supply and delivery infrastructure.

Essar submits planning application for hydrogen production plants

Essar Oil (UK) Ltd said it has submitted a planning application seeking approval for the construction of hydrogen production plants at its Stanlow Manufacturing Complex in Ellesmere Port, UK