Director of Essar Capital Mr. Prashant Ruia stated, "Essar is now repositioned for development and resurrection. We have entered the next growth phase focused on assisting in the development of a sustainable energy future that will impact lives and livelihoods for a greener world after integrating our operations over the last four years.
With this agreement, Essar will finish its anticipated asset monetisation programme, complete the $25 billion (2,00,000 crore) debt repayment plan, and almost completely reimburse the Indian banking system. Essar's total revenues will be around US$ 15 billion (or 1.2 lakh core) and its AUM (Asset Under Management) will be around US$ 8 billion (or 64,000 crore), made up of a variety of assets located both in India and abroad.
These assets fall under the energy sector and include a 10 MTPA refinery in the United Kingdom (UK), 15 TCF reserves of unconventional hydrocarbons (including some producing fields) in India and Vietnam, and a 1,200 MW power plant in India; under the infrastructure sector, they include a storage terminal in the UK with a 3 million m3 capacity and a 20 MTPA port; under the metals and mining sector, they include a significant iron ore mine and pellet project in the United States;