With the adverse effect of demonetisation still looming over the country, the New Year will witness industry bigwigs - both international and homegrown ĆĀ¹ queuing up to invest in IndiaĆĀ“s most industrially developed state, Gujarat. The occasion, Vibrant Gujarat (in its 8th edition), is all geared up to welcome the investors from all across the world.
Tag: Essar group
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Essar Group eyes sale of Gujarat refinery | Sources
Essar Group is exploring the sale of its 405,000 barrel-per-day oil refinery in Gujarat, as the conglomerate seeks funds to reduce its debt, two sources familiar with the matter said.
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Essar Group raises $450 mn
The Essar Group has achieved financial closure for the $1.8 billion Minnesota Mining project making some headway six years after the asset was acquired. The group has raised $450 million from a clutch of New York based funds to fund the expansion of the mine.
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Essar to raise $3.5 bn
Essar Group is planning to raise over $3.5 billion by selling stake in the refinery business. Essar Group is said to be in talks with two Chinese oil and gas majors for the deal
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Essar firms to reduce dependence on group companies
Essar group companies like Essar Shipping, Essar Ports, Essar Projects would diversify their operations and reduce their dependence on sister companies for business. These companies largely cater to the sister companies and thereby rely on these firms for revenue generation.
For example, currently, Essar Projects earns around 60 percent of its revenue from group firms, but wants to eventually take external orders to 90 percent, deriving half its re
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Essar port in Mozambique
The Essar Group is planning to set up a 10-million tonne (mn t) port in Mozambique, at a cost of $275 million (Rs 1,496 crore). This port will facilitate exports from Zimbabwe Iron and Steel Company (ZISCO), a Zimbabwe-based company it acquired in 2010.
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Essar to spend Rs 100 bn on port projects in Gujarat
At the sixth edition of 'Vibrant Gujarat, Essar Group said it would invest an additional Rs 14,000 crore in the port sector and water supply projects in the state. The group is said to have already invested Rs 88,000 crore in the state. Of the proposed fresh outlay, the group plans to invest Rs 10,000 crore on developing ports in Hazir
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Captive power projects face coal shortage
Captive power plants are struggling to implement their expansion plan because of coal shortage.Jindal Power, which supplies power to Jindal Power and Steel (JSPL) wants to add another 2,400 mw non-captive capacity by 2015.Yet, it is unable to lock-in coal supply for even half of this capacity.
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PAI to invest in Hazira Port
Belgium's Port of Antwerp aims to pick a stake in Essar Group's Hazira Port. It is believed that Port of Antwerp International (PAI) is working with reserves of 25 million and it has already acquired stakes in port projects in Oman and Congo.The move is in keeping with the Belgian company's expansion plans firmed up last year, when it evaluated 20 projects and zeroed in on a few of them to expand its presence out of Europe through equity participation
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Essar to explore CBM overseas
Essar Group is keen to use its expertise to prospect for coal-bed methane (CBM) overseas, and is looking to enter into strategic partnerships with other oil and gas companies to do this.The group is in talks with four of ChinaĆ¢ā¬ā¢s largest oil and gas producing companies.
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