Board and shareholders of Essar Steel offer to make payment aggregating Rs 54,389 crore to creditors of all classes under Section 12A of IBC to withdraw Company from corporate insolvency resolution process
Mumbai, 25 October 2018: The shareholders of Essar Steel have today submitted a proposal to the Committee of Creditors (CoC) for full settlement of the entire admitted claims of the financial creditors, operational creditors, and workmen and employees of Essar Steel India Ltd (ESIL), aggregating Rs 54,389 crore, under Section 12A of the Code. The aforesaid plan […]
Essar completes Rs 8,000-crore capex cycle for 2×600 MW Mahan power project; commissions second unit
Mahan (Madhya Pradesh) & Mumbai, 10 October 2018: Essar Power today announced the completion of the Rs 8,000-crore capex programme for its 2×600 MW Mahan power plant project with the commissioning of the plant’s second 600 MW unit. Both units of the project are operational and supported by an end-to-end raw material sourcing and evacuation infrastructure. […]
Essar Power adds to capacity of National Grid, commissions 337-km, 400 kV Mahan-Sipat transmission line
Mumbai, 26 September 2018: Essar Power today announced that it has commissioned the 337-km Mahan-Sipat transmission line, the final leg of a 465-km transmission system consisting of three interstate transmission lines that have been built at an investment of Rs 2,400 crore. The 400 kV lines will help Essar Power’s 1,200 MW Mahan Thermal Power Plant […]
Essar signs GSPA with GAIL for offtake of entire production from Raniganj East CBM block
Delhi and Mumbai, 09 August 2018: Essar Oil & Gas Exploration & Production Ltd (EOGEPL) today announced that it has signed a Gas Sale and Purchase Agreement (GSPA) with GAIL (Gas Authority of India Limited). The GSPA entails a 15-year gas supply contract whereby the Company will be able to monetise its entire CBM production […]
Essar builds India’s largest iron ore handling complex of 24 MTPA at Vizag Port with Rs 830 crore investment; dedicates it to the nation
Shri. Nitin Gadkari, Hon’ble Minister for Road Transport & Highways, Shipping & Water Resources, to inaugurate facility Mumbai / Visakhapatnam, 12 July 2018: Essar Vizag Terminal Ltd (EVTL) today dedicated to the nation its newly commissioned 24 MTPA Vizag iron ore handling complex, which will be inaugurated by Shri. Nitin Gadkari, Hon’ble Minister for Road Transport […]
Essar completes sale of Equinox Business Parks to Brookfield for Rs 2,400 crore
Mumbai, 24 April 2018: Essar today announced that it has completed the sale of Equinox Business Parks, its commercial property in Mumbai’s Bandra-Kurla Complex, to Brookfield Asset Management, a leading global asset manager, for an enterprise value of Rs 2,400 crore. Located in Mumbai’s prime CBD and spread across nearly 10 acres, Equinox Business Park comprises […]
Essar Ports completes over Rs 2,800 crore investment in Salaya & Vizag terminals
Essar Bulk Terminal Salaya Limited Essar Vizag Terminal Limited Mumbai: 08 January 2018: Essar Ports Limited (EPL) today said that its investment of over Rs 2,800 crore in its Salaya and Vizag terminal projects has the potential to increase the company’s revenues by 30% in FY2018-19 on the back of third-party cargo growth. Mr Rajiv Agarwal, […]
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