Essar to start work on $4 billion Saudi steel plant from 2024

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India’s Essar Group plans to invest billions of dollars in low-carbon projects in Saudi Arabia, the UK and India, as the company transitions into clean energy investments. The conglomerate controlled by billionaire brothers Shashi and Ravi Ruia expects to get final approvals by June to start investing about $4 billion to build a low-carbon steel […]

Indian conglomerate Essar plans regional hub in Saudi Arabia

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Indian conglomerate Essar Group plans to make Saudi Arabia a hub to drive its expansion locally and regionally, its chief executive Prashant Ruia said on Wednesday. The group, built by brothers Shashi and Ravi Ruia, is setting up a 4 million metric tonnes per year steel plant along with port facilities at Ras Al-Khair in […]

Essar Group and Desert Technologies sign MOU for developing renewable energy solutions for Essar’s KSA Green Steel Arabia Project

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New Delhi, India, September 11, 2023: Desert Technologies (DT) an independent solar PV and smart infrastructure holding company, entered into a long term partnership with the multinational conglomerate Essar Group. Both parties signed a Memorandum of Understanding (MOU) to develop renewable energy solutions for Essar Group’s Green Steel Arabia (GSA) project in the Kingdom of […]

Essar returns to steel biz with $8-bn investment

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Setting up steel plant in Saudi, an iron pellet plant each in Odisha, US Source: Business Standard The $15-billion Essar group is making a quiet but big comeback to the steel industry with a global footprint in three mega projects with an investment of $8 billion over three to four years, according to a senior […]

Mesabi Metallics gearing up for 2023 Project Restart

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NASHWAUK, Minn. (Jan 4, 2023) — Mesabi Metallics Company LLC (Mesabi Metallics) this morning announced it provided a payment late last week of $7.25 million to Itasca County and the Minnesota Department of Employment & Economic Development (DEED), in conjunction with a master lease agreement executed by Mesabi Metallics and the DNR in December 2020. Since 2017, Mesabi […]

Mr J Mehra receives Lifetime Achievement Award at the ISA Steel Conclave 2022

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Mr Jatinder Mehra, Vice Chairman & Operating Partner, Essar Capital, was recognised by the Indian Steel Association (ISA) for his 50+ years’ service to the Nation’s steel industry. At the ISA Steel Conclave 2022 held at The Lalit, New Delhi, on November 21-22, 2022, Mr Mehra was awarded the Lifetime Achievement Award by the Chief […]

Essar eyes end-2025 for Saudi plant commissioning

Naushad Ansari, Country Head, Kingdom of Saudi Arabia, in an interview with Royal Commission for Jubail and Yanbu, speaks in detail about the Steel plant project. NEWS ARTICLE PUBLISHED IN KALLANISH COMMODITIESIndia’s Essar Group, which is carrying out the largest foreign direct investment in Saudi Arabian steel industry history, chose the country due to its […]