Tag: Essar

EET plans to invest a total of USD 3.6bn in developing a range of low-carbon energy transition projects.

The Board of Essar Oil UK Ltd announced the appointment of Stein Ivar Bye as Chief Executive Officer. Stein Ivar Bye will be based at the company’s Stanlow Manufacturing Complex in Ellesmere Port, Cheshire.

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.

FLSmidth has received a contract worth approximately USD 40M from Essar Steel Minnesota for mechanical installation of a complete Air Pollution Control system for the Group's greenfield iron ore pelletizing plant.

Minnesota Governor Mark Dayton, Iron Range Resources & Rehabilitation Board Commissioner Tony Sertich and Minnesota DNR Commissioner Tom Landwehr visited Essar Steel Minnesota LLC (ESML) as the company ramps up work on its 7 million ton iron-ore mining, crushing and pelletization project.

Essar Energy, the India-focused integrated energy company, appointed Sushil Maroo as the CEO and a director of Essar Energy following Naresh Nayyar, the current CEO’s decision to step down.

Essar Steel, one of leading integrated steel producers in India, announced the launch of revolutionary wood-finish steel products for the Indian market. These products are a substitute for wood laminates used for interiors.

Industry and Commerce Minister Mr Welshman Ncube said that there are no sticking issues to the transfer of mining rights to Essar Global which acquired a 60% stake in Ziscosteel from the Zimbabwean government. However, Minister Ncube said that it was only a matter of time before the government transferred the mining and prospecting rights over Ripple Creek and Mwanesi Range to the Indian steel company. He said that “As far as I know there are no sticking points because all the matters are covered by specific Cabinet resolutions, the mining claims whether it is on the Ripple Creek or Buchwa, they agreed they have already written letters for the transfer of those.

Essar group is expanding its presence in Africa; the company is planning to set up a ten-million-tonne port in Mozambique costing USD 275M.

This port will facilitate exports from Zisco, a Zimbabwe-based company acquired in 2010 in which Essar spent USD 750M for a 56% stake.

Essar plans to spend up to USD 4 billion in constructing a steel plant to process iron ore from Zimbabwe's Mwanesi resource within the next five years. According to Welshman Ncube, the industry and commerce minister of Zimbabwe said that this would be the biggest single foreign investment