According to Essar Corporate Planning General Manager Amar Kapadia, the Indian Essar Group, which is making the largest foreign direct investment in Saudi Arabian steel sector history, picked the nation for its welcoming investment climate. By year's end, construction on the new integrated flat steelworks is expected to begin, and it will be finished by the end of 2025.
"With this deal, which yields a multifold return on our investments, Essar Ports & Terminals has unlocked value for all its stakeholders," said Mr. Rewant Ruia, Director of Essar Ports & Terminals Limited. "We will continue to focus on building new and modern core infrastructure assets in India and abroad."
Director of Essar Capital Mr. Prashant Ruia stated, "Essar is now repositioned for development and resurrection.
In its core industries of energy, infrastructure, metals & mining, and technology & services, Essar has planned large expenditures. While continuous operations will ensure operational stability, our renewed focus will be on converting existing assets to green technology and investing in clean companies that are reshaping entire industries. These themes will centre on decarbonization and digitization.