Page 3 - Essar Group

Essar to invest 750 million pound to set up hydrogen project in UK

Essar Group in partnership with clean energy specialist Progressive Energy will invest 750 million pound to build the UK's biggest low carbon hydrogen production hub

AGC Networks raises Rs 225 crore via issuance of warrants to promoters

AGC Networks Limited, a part of Essar Group, on Monday said it has raised Rs 225 crore through issuance of convertible warrants to promoters and promoter group of the company

India's Essar, Brazilian firms consider bid for Petrobras' refinery

Both Refap and Repar are located in Brazil's southern region and have a production capacity of 200,000 barrels per day each

ArcelorMittal moves HC against Gujarat govt, Essar over Hazira port licence

Essar Steel owns a 10 million tonnes per annum steel plant at Hazira in Gujarat, which is serviced by a captive jetty constructed at port.

Essar group places bid for Brazil's Petrobras refinery in Bahia: Report

In a recent note to clients, analysts from Bradesco BBI valued the RLAM refinery, based in the northeastern Brazilian state of Bahia, at $2.5 billion

Giving teeth to bankruptcy code

By adopting a few steps many companies that have no alternative but to go to the NCLT to keep themselves from closing down can be saved

Essar Foundation to offer meals to people affected by coronavirus

The foundation has committed to provide 1.25 million meals to communities affected by the COVID-19 outbreak

Essar Group plans to cut residual debt by 70% to Rs 12,000 crore

Group enters the final leg of deleveraging post oil, steel business sell-off

Essar to further cut down debt by 70% in last leg of deleveraging exercise

From Rs 1.83 trillion of debt in FY17, the group brought down the debt by a staggering Rs 1.40 trillion over the last three years

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

Gruelling battle for 865 days: The making of Rs 42,000-cr Essar Steel deal

Getting to this point wasn't easy. The road was riddled with challenges as much for ArcelorMittal as it was for stakeholders

Losing steel arm to ArcelorMittal to hurt Essar India; revenue may fall 97%

Revenue hit of 96% is combined impact of earlier divestment in Essar Oil & losing control of Essar Steel

Essar leads India Inc deleveraging; pays off Rs 1.4 trillion: Prashant Ruia

Despite deleveraging, the group still has a fairly substantial portfolio of assets and companies in the five sectors of energy, infrastructure, metals and mining, services and technology

Recent CoC decisions raise hopes for the return of errant promoters

Two recent CoC decisions give hope to those who were pushed out of their company's management due to IBC provisions

Top 10 biz headlines: Ruias win back Mahan Power, auto cos' GST woes & more

From the Ruias being set to wrest back control of the Mahan Power project to the govt's warning that GST relief for auto cos may raise burden on other goods, here are Thursday's top business headlines

Ruias set to win back control of Mahan Power as ArcelorMittal bid falters

Banks reject L N Mittal's conditional offer

Setback for ArcelorMittal: Caymans court denies freeze on Essar Global Fund

ArcelorMittal has mounted legal battles against the Ruia family in multiple countries in an effort to enforce a $1.5 billion US arbitration award it had won in December 2017

Ruias to deleverage Rs 1.25 trn of their debt if Essar Steel offer accepted

Essar plans to legally challenge the decision as it believes its offer would ensure 100 per cent recovery for lenders while accepting ArcelorMittal's offer would entail a haircut

Essar in talks to sell its Equinox office to Brookfield for Rs 24 billion

Essar would utilise the entire sale proceeds to repay loans

Essar Group completes Rs 891-cr fund disbursement to Essar Oil shareholders

Total payout to public shareholders has increased from Rs 3,064 crore (at the time of delisting) to Rs 3,955 crore