Ruias plan comeback, say Essar to re-start investment in India and abroad

Group repaid Rs 1.4 trn debt to banking system over past three years; promoters say it currently generates earnings of Rs one trn a year, mainly from UK refinery

The promoters of the Essar group are planning a comeback with the group planning to re-start investing in India and overseas.

In a letter to the investors and the media, company promoters said the group currently generates earnings of about Rs one trillion ($14 billion) per annum, mainly from its refinery in the UK.

“Armed with a substantially lighter balance sheet, Essar is now well poised to embark on a new phase of growth, while driving growth in its existing portfolio. Essar will continue to use its entrepreneurial skills, vast pool