Essar will be completing the Rs 86,000 crore sale of Essar Oil’s stake to Rosneft and the investment consortium led by Trafigura and UCP in July 2017. This deal is the largest FDI in India.
The all-cash deal encompasses Essar Oil’s 20 MT refinery at Vadinar in Gujarat, and its pan-India network of over 3,500 retail outlets. The refinery, which accounts for 9% of India’s total refining output, is supported by a 1,010 MW captive power plant, and a 58 MT deep draft port that helps in importing crude and exporting finished products for the refinery.
