In order to concentrate on four key verticals, including energy, infrastructure and logistics,
technology, and retail, as well as metals and mining, the Essar Group intends to reorganise its
priorities.
Prashant Ruia, director of Essar Capital, said in a statement to IANS on the sidelines of the India
Energy Week, which took place in Bengaluru from February 6 to 8, that the company has developed
a strategy centred on the industries.
A 10 million tonnes per year refinery in the UK, a 1,200 MW power station in India, and 15 trillion
cubic feet of unconventional hydrocarbon reserves in Vietnam and India are also part of the
company’s energy plans.
A 50:50 joint venture between Essar and ArcelorMittal Nippon Steel India for the construction of a 4
million tonnes per year LNG import facility at Hazira is also in the works; Ruia said that this joint
venture would be made public after receiving the necessary permits.
He also disclosed that a green ammonia factory would be built in India and exported to its UK
refinery.
Ruia added that the company intends to establish one project in each of the US, Saudi Arabia, and
Odisha while remaining focused on the mining and metals industries.
Over a three-year period, the Essar Group plans to build an integrated flat steelworks complex in
Saudi Arabia. It intends to build a 14 million tonne per year export-oriented pelletizing complex in
Odisha, which will include a 250 km slurry pipeline, an iron ore fines beneficiation plant at Keonjhar,
and a pellet factory at Paradip port.