Essar Projects appoints Arun Kumar Jain as Operating Partner

Ruia-family controlled Essar Global Fund Ltd (EGFL) on Wednesday announced appointment of Arun Kumar Jain as Operating Partner of Projects business.

He will be a member of the Board, EGFL said in a statement.

"Arun Kumar Jain appointed Operating Partner of Essar's Projects business, a key portfolio business of EGFL," it added.

As the shareholders' representative, Jain will drive the strategic roadmap of the projects business. He will monitor and review performance, as well as strive to mitigate the operational and financial risks associated with the business, the statement said.

Prior to Essar, Jain was associated with BHEL. He has over 17 years of experience in various leadership roles.

"We are confident that Jain's experience and leadership track record, which is complemented by a team of highly skilled professionals, will help steer the performance of this vital EGFL portfolio company, thereby enhancing the overall value of our investment. I would like to extend him a warm welcome to the Essar Family," Prashant Ruia, Director-Essar Capital, said.

Until date, EGFL, through its investment manager, Essar Capital, has invested USD 1 billion in Essar Projects.