Board and shareholders of Essar Steel offer to make payment aggregating Rs 54,389 crore to creditors of all classes under Section 12A of IBC to withdraw Company from corporate insolvency resolution process


Mumbai, 25 October 2018: The shareholders of Essar Steel have today submitted a proposal to the Committee of Creditors (CoC) for full settlement of the entire admitted claims of the financial creditors, operational creditors, and workmen and employees of Essar Steel India Ltd (ESIL), aggregating Rs 54,389 crore, under Section 12A of the Code. The aforesaid plan […]

Essar builds India’s largest iron ore handling complex of 24 MTPA at Vizag Port with Rs 830 crore investment; dedicates it to the nation


Shri. Nitin Gadkari, Hon’ble Minister for Road Transport & Highways, Shipping & Water Resources, to inaugurate facility Mumbai / Visakhapatnam, 12 July 2018: Essar Vizag Terminal Ltd (EVTL) today dedicated to the nation its newly commissioned 24 MTPA Vizag iron ore handling complex, which will be inaugurated by Shri. Nitin Gadkari, Hon’ble Minister for Road Transport […]

Essar completes sale of Equinox Business Parks to Brookfield for Rs 2,400 crore


Mumbai, 24 April 2018: Essar today announced that it has completed the sale of Equinox Business Parks, its commercial property in Mumbai’s Bandra-Kurla Complex, to Brookfield Asset Management, a leading global asset manager, for an enterprise value of Rs 2,400 crore. Located in Mumbai’s prime CBD and spread across nearly 10 acres, Equinox Business Park comprises […]

Essar Ports completes over Rs 2,800 crore investment in Salaya & Vizag terminals


Essar Bulk Terminal Salaya Limited Essar Vizag Terminal Limited Mumbai: 08 January 2018: Essar Ports Limited (EPL) today said that its investment of over Rs 2,800 crore in its Salaya and Vizag terminal projects has the potential to increase the company’s revenues by 30% in FY2018-19 on the back of third-party cargo growth. Mr Rajiv Agarwal, […]