news years: 2015

Mumbai, November 07, 2015: Essar Steel has appointed ICICI Securities & SBI Capital Markets as advisors to help identify and induct strategic/financial investors in the Company. This decision is in addition to previously announced plans to monetise certain non-core assets to raise equity and infuse additional funds for ramping up operations to full capacity. Essar Steel […]

Mumbai, India and Chicago, USA: Essar Steel India has been recognised for Safety Leadership for the second year in a row by the World Steel Association (worldsteel). Declaring the final scoring of the 31 submissions received by the Worldsteel Safety Excellence Recognition Programme 2015, Mr Arne Haferkorn, Chairman of the Judging Panel said, “I am delighted […]

SAULT STE. MARIE, ON – Essar Steel Algoma Inc. has contracted with CanamBridges, a division of Canam Group Inc., to supply structural steel bridge plates for use in the construction of the new Champlain Bridge, satisfying approximately 20% of the project’s total steel requirement. Spanning 3.4 km across the St. Lawrence between Montreal and the […]

E Hypermart to be a billion dollar e-tailing place Mumbai: In a first ever move by a B2B product company, Essar Hypermart, part of Essar Steel, has announced the launch of an online platform (www.ehypermart.in) for selling steel and other related products. Branded EHypermart (EHM), the online platform will target B2B segments. EHypermart is an […]

SAULT STE. MARIE, ON — Essar Steel Algoma Inc. announced today the close of its fiscal year ending March 31, 2015 reporting Rs. 1047.42 cr. (CDN $194.9 million) in EBITDA as compared to an EBITDA loss of Rs. 319.53 cr. (CDN $55.2 million) in F2014. Fiscal 2015 was a milestone year for the Company marked […]

Modernization and expansion program will make Essar Steel Algoma more competitive. SAULT STE. MARIE, Ont. — Essar Steel Algoma is embarking on a CDN $240 million modernization and expansion program to make it more competitive and sustainable in a tough global steel market. Bolstered by up to $60 million from the governments of Canada and […]

Highlights of FY 2015 Mumbai: Essar Steel India Limited today announced its financial results for the year ended March 31, 2015. Financial performanceEssar Steel has made significant improvements in the performance of the company during FY15. The company focused on consolidation, enriching product mix, cost reduction and stabilizing operations. The gross revenue has increased by 19.61% […]

Jakarta: PT Essar Indonesia, part of Essar Global Fund and amongst the largest downstream steel facilities in Indonesia, has registered 22% growth in its EBIDTA at USD 15.37 million for the year ended March 31, 2015, against an EBIDTA of USD 12.57 million in the previous year. The company recorded net profit of USD 3.8 million […]

Visakhapatnam: Essar Steel, amongst India’s leading steel makers, today said that it has restored the 30 MW Captive Power Plant located in the premises of its Pellet Plant Facility in Visakhapatnam, after the severe damage caused by super cyclone HUD HUD in October 2014. The plant is being operated at full capacity and has begun supplying […]

SAULT STE. MARIE, ON, Feb. 16, 2015: Essar Steel Algoma Inc. signaled its return to profitability today reporting a net income of CDN$26.8 million for the three month period ended December 31, 2014, as compared to a net loss of CDN$38.6 million for the same three month period ending December 31, 2013. The gain is attributable […]