Essar Ports & Terminals Ltd (EPTL) and Essar Power Ltd (EPL) have completed the sale of captive ports and power assets in Hazira and Paradip to Arcelor Mittal Nippon Steel India Limited (AM/NS) for US$ 2.05 billion (16,500 crore). A 270 MW power plant, a 25 MPTA port in Gujarat, a 12 MPTA port in Odisha, and other infrastructure assets made up the deal.
Director of Essar Capital, Mr. Prashant Ruia, declared that "Essar has finished its asset monetisation programme and completed the debt repayment of $25 billion (2,00,000 crore), effectively making the group debt-free from Indian banks and financial institutions."

In each of its four primary verticals—energy, metals & mining, infrastructure & logistics, and technology & retail—Essar maintains a sizable presence and sizable operating assets. The privately held group has approximately US$ 15 billion in sales (1.2 lakh core) and US$ 8 billion (64,00 crore) in assets under management both inside and outside of India.
"In a planned and strategic manner, we have monetized assets that we built over the last 30 years," said Mr. Rewant Ruia, Director of Essar Ports Terminals Limited. We are currently investing in expanding our current businesses and creating new assets abroad and in India using cutting-edge, efficient, carbon-neutral new technologies.

The assets that Essar has monetized over the past five years have produced a multifold return on investment, which is a testament to Essar's reputation for developing top-notch, globally relevant, high-quality assets across all of its business verticals.

Essar has contributed significantly to the India growth story and will continue to do so, all the while continuing to see significant growth and earnings from its international operations.