Essar Group

India's Essar group to invest $18 bn in steel manufacturing in the US

The plan includes a proposed $15 billion steel complex in Iowa and nearly $3 billion already invested in a Minnesota iron ore mine and pelletising facility

Who are the Ruias, and how did Essar land America's $15 bn steel project?

Trump has unveiled a $15 billion steel project with Indian conglomerate Essar; behind the landmark announcement is the Ruia family's decades-long journey through expansion, debt, and restructuring

Essar Group to invest $15 billion to build largest US steel plant in Iowa

US President Donald Trump on Monday unveiled Essar Group's plans to build a massive steel plant in Iowa, at an investment of USD 15 billion. Trump made the announcement in the Oval Office with Essar Group co-founder Ravi Ruia and his son Rewant by his side. "Today, we're thrilled to announce that Mesabi Metallics will be building the largest steel plant in American history in the great state of Iowa," Trump said. Essar Group's Mesabi Metallics chairman Rewant Ruia thanked Trump "for bringing back the importance of building things in America." Mesabi Metallics is building the plant with the aim of starting production by 2030, a White House official said. The facility is expected to produce 10 million tonnes of steel a year and create as many as 1,750 permanent jobs in the state, the official said. The plant will use iron ore from a new mine that the company invested USD 2.5 billion to build in Minnesota. The mine will produce about 7.5 million tonnes of iron per year and create ab

Essar Energy Transition Retail acquires UK forecourt network SGN

The £250-million acquisition will add 118 sites to EET Retail's existing 117 forecourts, creating a 235-site network as Essar targets 800 UK forecourts by 2031

Essar Group buys UK petrol station operator SGN Retail, adds 118 sites

The acquisition will take the number of petrol stations operated by Essar Energy Transition Retail (EET Retail) to 235

Black Box Q1 result: Net profit rises 18% to ₹56 cr, revenue at ₹8,986 cr

Essar group's IT arm Black Box has posted an 18 per cent increase in consolidated profit at Rs 56 crore in the June quarter, driven by a stronger order book and contribution from its recently acquired Brazilian business, 2S, the company said on Thursday. Black Box had posted profit of around Rs 47 crore in the same period a year ago. The company's revenue from operations grew by about 83 per cent to Rs 8,986 crore during the reported quarter from Rs 4,901 crore a year ago. "We have entered FY'27 with strong momentum, delivering our highest-ever quarterly revenue of Rs 1,719 crore, up 24 per cent YoY, driven by improved execution of our expanding backlog and the contribution from our recently acquired Brazilian business, 2S. "Strong order bookings of USD 339 million lifted our backlog to an all-time high of USD 949 million, providing greater visibility and a strong foundation for sustained growth," Black Box, Whole-time Director and Chief Executive Officer, Sanjeev Verma said in a .

Essar to invest $5.8 billion in UK energy transition projects by 2035

The group plans to invest £4.3 billion in low-carbon projects, including the Stanlow energy transition hub, while expanding its UK fuel retail network and exploring data centres

Essar Group plans $5.8 billion energy transition investment in UK by 2035

​Essar Energy Transition Fuels (EETF), a unit ​of Essar Group, operates a 200,000-barrels-per-day Stanlow refinery

Essar, IRH Global sign $500 million crude sourcing and supply facility

The agreement is aimed at diversifying crude sourcing, strengthening feedstock security and improving working-capital efficiency for Essar's refining operations

Essar Group's Mesabi Metallics bags $520 mn from Breakwall Capital

Essar-backed Mesabi Metallics raises $520 million through a secured credit facility as it nears commercial operations at its iron ore project in Minnesota

Black Box raises ₹386 cr via warrant conversion, promoters invest ₹200 cr

Digital infrastructure solutions provider Black Box, an Essar Group firm, on Monday said it has raised Rs 386.36 crore through the conversion of warrants into equity shares, with promoters contributing Rs 200 crore to the total infusion. The company converted over 92.65 lakh warrants at an issue price of Rs 417 per share, according to a regulatory filing. "Black Box Limited today announced the successful receipt of Rs 386.36 crore pursuant to the conversion of warrants issued on September 27, 2024All warrant holders have exercised their rights in full, with no forfeiture or withdrawal. "Promoters participated meaningfully in the issue, contributing Rs 200 crore, representing 51.76 per cent of the total infusion," the filing said. Following the conversion, the promoter shareholding in the company has increased to 69.99 per cent. Black Box CEO Sanjeev Verma said the capital infusion strengthens the company's balance sheet and provides flexibility to accelerate its growth agenda, sca

US announces $10 billion support for Essar Group's Minnesota steel project

The US backs Essar's Mesabi Metallics project with up to $10 billion to boost iron ore output in Minnesota, create jobs and strengthen supply chains with India and Indo-Pacific partners

Jatinder Mehra, who shaped India's steel growth story, passes away at 86

Steel industry veteran Jatinder Mehra, Vice Chairman at Essar's Metals & Mining Division and former RINL chief, passed away at 86, leaving behind a six-decade legacy in steel

Essar's Green Mobility eyes 30k clean trucks, 100 charging hubs in India

Essar Green Mobility is targeting to deploy 30,000 LNG and electric trucks supported by a network of 100 alternative fuel and charging hubs across the country as part of India's largest clean freight initiatives, an official said. The expansion is expected to cut around one million tonnes of CO2 annually from freight operations - a key contributor to transport emissions - marking a significant step in decarbonising the logistics sector. "The transition away from diesel will happen only when clean alternatives match the operational and economic realities of freight movement. That is the gap we are addressing," said B C Tripathi, Operating Partner - Energy, Essar Group. The plan integrates vehicle manufacturing, fleet operations and fuelling infrastructure to create a fully scaled clean freight ecosystem. Essar says this end-to-end model will help address high upfront costs and infrastructure bottlenecks that have constrained adoption of low-emission freight technologies in India's .

Essar names Amit Bajaj MD, global head of corporate affairs & public policy

Amit Bajaj rejoins Essar as global head of corporate affairs and public policy, bringing 25 years of experience to support stakeholder engagement and policy advocacy

Essar Group firm Black Box earmarks Rs 100 cr to ramp up India presence

Essar Group firm Black Box, a global digital infrastructure integrator, has earmarked about Rs 100 crore to fuel its India expansion, as it looks to more than double its India business in the next few years. A huge chunk of this investment -- which represents about a quarter of Black Box's recent Rs 410 crore fundraise -- will be used to strengthen the firm's Center of Excellence in Bengaluru, where the company plans to double its workforce to about 1,000 employees over the next year. The company currently employs around 3,000 people worldwide. "India's digital infrastructure is undergoing a fundamental rebuild. The next four to five years are hyper-active for us because we want to ensure we're deeply embedded in this transformation, said Sanjeev Verma, Whole-Time Director at Black Box. With India's data center capacity currently at just 800900 megawatts -- roughly equivalent to a single hyperscaler in the US -- Black Box sees a compelling long-term opportunity, the company said in

Black Box targets doubling India revenue as digital demand surges

Essar Group's Black Box to double India headcount and revenue as it ramps up investment in AI-led digital infrastructure, public-sector tech and secure IT services

GreenLine, Bekaert partner to drive sustainable logistics with LNG trucks

Essar venture GreenLine Mobility Solutions on Thursday said it has joined hands with tire reinforcement technology company Bekaert to decarbonise road logistics. The partnership was flagged off with the deployment of GreenLine's LNG-powered trucks at Bekaert's Ranjangaon plant in Maharashtra, marking the beginning of a pilot phase, the company said in a statement. The pilot phase aims to significantly reduce the carbon footprint of Bekaert's logistics operations. The partnership will support India's vision of a gas-based economy, the statement said. Each GreenLine LNG truck is expected to reduce up to 24 tonnes of CO2 emissions annually, contributing to Bekaert's ambition of becoming carbon net-zero by 2050 and achieving 65 per cent of sales from sustainable solutions. "At GreenLine, we are proud to offeran integrated ecosystem - from LNG refuelling to real-time telematics - that empowers our partners to make meaningful progress on their net-zero goals," Anand Mimani, CEO of Green

Essar's Shift to low-carbon Business portfolio

Rising Above Essar 2G Scam Challenges with Visionary

Essar Group to invest $650 mn more in US steel plant: Prashant Ruia

Company to focus on energy, metals and mining, infrastructure and technology in India, he says