Despite deleveraging, Essar turnover Rs 1 lakh cr: Ruia


New Delhi, Oct 15 (IANS) Despite aggressively deleveraging the balance sheet to the tune of Rs 1,40,000 crore through monetisation of several key assets, the existing businesses of Essar Group in the sectors of energy, infrastructure, metals & mining, services and technology, have a combined revenue of $13 billion, or almost Rs 100,000 crore, said […]

Essar leads corporate deleveraging; pays off Rs 1.4 lakh crore: Prashant Ruia


The Economic Times Leading the India Inc in deleveraging through aggressive monetisation of assets, Essar Group paid off Rs 1.4 lakh crore debt and residual 10-15 per cent will be cleared in the next two quarters, said Essar Capital Director Prashant Ruia. “In the last three years, I think we were the first to get […]

Prashant Ruia speaks on the Indian economy and future of Essar


In an exclusive interview, Mr Prashant Ruia, Director, Essar Capital, shares his views on the Indian economy, and also speaks about Essar’s proactive initiatives to deleverage and dealing with sectorial challenges. He went on to speak about the group’s current businesses and future plans. Watch the complete video. Indian Economy: 00:10 Deleveraging: 03:20 Current Business & Future […]

Essar to double CBM gas production to 1 mmscmd


ET Energy World This would be the highest production of coal-seam gas or coal-bed methane from any block in the country New Delhi: Mumbai’s Ruia family-owned Essar plans to double production of coal-seam gas from its Raniganj east block in West Bengal as a vital Urja-Ganga gas pipeline connecting users in eastern India gets commissioned […]

Essar Power in talks with lenders to restructure Rs. 20,000-cr debt of IPPs


Business Line Essar Power is said to be in talks to deleverage about Rs. 20,000 crore of its debt to bring it down to about one-third. For this, it plans a debt restructuring of the group’s 2,400 MW independent power producer (IPP) companies. Essar has so far invested about Rs. 32,000 crore in its power […]

Robust Q1 ushers Essar Ports closer to 60 MT cargo handling target


Mumbai, 21 August 2019: Essar Ports today said higher capacity utilisation at its recently commissioned terminals at Salaya and Vizag, and an increase in third-party cargo, were the two key factors that will help the Company achieve its target of handling 60 million tonnes of cargo by 31 March 2020. The Company’s first quarter cargo handling […]

Essar Oil UK Group acquires BP strategic assets to drive further growth


Essar’s total investment in the UK now stands at US $1 billion Stanlow, February 6th 2019: The Essar Oil UK Group of companies (Essar) today unveiled the latest phase of its strategic business development after announcing the acquisition of a number of assets from BP to further strengthen the company’s logistics infrastructure network which will fuel growth […]

AGC Networks completes acquisition of Black Box Corporation


[tweet] Mumbai, India, 09 January 2019: AGC Networks Limited, (BSE: 500463 and NSE: AGCNET), the trusted go-to-technology-solution-integrator, today announced that its wholly-owned subsidiary has completed the acquisition of Black Box Corporation (NASDAQ: BBOX), a leading digital solutions provider in the US. The combination with Black Box will substantially strengthen AGC’s presence and offerings to 25+ […]