About

Essar is a global conglomerate that functions like a private equity fund.

Profitable Monetising

  • 1995 – First Mover partnership with Hutchison Whampoa and then with Vodafone
  • Investment sold to Vodafone in 2011

Value Created
US$18.8 bn*
(86,480 cr)

  • Part Sale of Aegis USA Inc. to Teleperformance at $610 million
  • Balance to CSP at $300 million

Value Created
US$910 mn
(5,660 cr)

  • Sale of 98% stake in Essar Oil to Roseneft, and Trafigura-led consortium
  • Sale included 20 MTPA refinery, retail, port and related infrastructure.

Value Created
US$12.9 bn
(86,000 cr)

  • Sale to American Tower Corporation

Value Created
US$450 mn
(2,000 cr)

  • Sale to Brookfield Asset Management Company

Value Created
US$350 mn
(2,400 cr)

Portfolio

Energy

Refining

  • Stanlow refinery in United Kingdom (UK) supplies 16% of UK’s road transport fuel requirements

Oil & Gas Exploration & Production

  • 15 TCF (trillion cubic feet) unconventional resources
  • Has 1 bboe (billion barrels of oil equivalent) of conventional resources

POWER

  • 3,830 MW of power generation capacity in India and Canada, further 1,260 MW under construction

Infrastructure

PORTS

  • India’s 2nd largest private port company with total capacity of 115 MTPA

PROJECTS

  • 50-year track record of handling over USD 10 bn of large-scale projects globally

Metals & Mining

METALS & MINERALS

  • 72 mn tonnes of coal reserves in Indonesia
  • 77 mn tonnes coal reserves in North America

Services

SHIPPING

  • 12 ships including VLCC, Mini-Capesize, Panamax and Supramax

Oilfield Services

  • 15 land rigs, 1 semi-submersible offshore rig

Technology

AGC Networks

  • Global Solution Integrator providing Unified Communications, Data Centre, Edge IT, Cyber Security (CYBER-i), Digital Transformation and Applications

50 years of HERITAGE

  • 1969

    Shashi Ruia wins major contract worth Rs 2.3 crore for construction of outer breakwater for madras port, thus laying the foundations of Essar

    Shashi Ruia wins major contract worth Rs 2.3 crore for construction of outer breakwater for madras port, thus laying the foundations of Essar

    October 1, 1969
    Shashi Ruia wins major contract worth Rs 2.3 crore for construction of outer breakwater for madras port, thus laying the foundations of Essar

    Shashi Ruia wins major contract worth Rs 2.3 crore for construction of outer breakwater for madras port, thus laying the foundations of Essar

  • 1976

    Essar Buys India’s first private tanker for US $2 million

    Essar Buys India’s first private tanker for US $2 million

    October 14, 1976
    Essar Buys India’s first private tanker for US $2 million

    Essar Buys India’s first private tanker for US $2 million

  • 1986

    Offshore and Energy Divisions setup to undertake specialized offshore and drilling activities under the Essar Constructions umbrella

    Offshore and Energy Divisions setup to undertake specialized offshore and drilling activities under the Essar Constructions umbrella

    October 9, 1986
    Offshore and Energy Divisions setup to undertake specialized offshore and drilling activities under the Essar Constructions umbrella

    Offshore and Energy Divisions setup to undertake specialized offshore and drilling activities under the Essar Constructions umbrella

  • 1988

    First HBI module at hazira begins production

    First HBI module at hazira begins production

    October 1, 1988
    First HBI module at hazira begins production
  • 1990

    Essar becomes first and only Indian drilling contractor to secure an international contract (Indonesia)

    Essar becomes first and only Indian drilling contractor to secure an international contract (Indonesia)

    October 3, 1990
    Essar becomes first and only Indian drilling contractor to secure an international contract (Indonesia)
  • 1991

    Essar Power conceptualizes the 515 MW combined cycle power plant at Hazira, becomes India’s first independent power producer

    Essar Power conceptualizes the 515 MW combined cycle power plant at Hazira, becomes India’s first independent power producer

    October 9, 1991
  • 1992

    Essar signs Power Purchase Agreement (PPA) with Gujarat Electricity Board (GEB)

    Essar signs Power Purchase Agreement (PPA) with Gujarat Electricity Board (GEB)

    October 1, 1992
  • 1994

    Essar Oil awarded several exploration and development blocks, including the Ratna and R series blocks with proven reserves of 87 million barrels of oil and 1.2 billion cubic metres of gas

    Essar Oil awarded several exploration and development blocks, including the Ratna and R series blocks with proven reserves of 87 million barrels of oil and 1.2 billion cubic metres of gas

    October 1, 1994
  • 1995

    Essar Telecom set up to take advantage of the tremendous potential for basic and cellular services following the opening up of the telecom sector to private participation

    Essar Telecom set up to take advantage of the tremendous potential for basic and cellular services following the opening up of the telecom sector to private participation

    October 4, 1995
  • 1996

    Commercial production of Hot Rolled Coils commences from Hazira steel plant

    Commercial production of Hot Rolled Coils commences from Hazira steel plant

    October 10, 1996
  • 1997

    Essar Telecom obtains licenses to operate cellular phone services in Delhi, UP (east), Haryana, Rajasthan and Punjab; holds license for basic services in Punjab.

    Essar Telecom obtains licenses to operate cellular phone services in Delhi, UP (east), Haryana, Rajasthan and Punjab; holds license for basic services in Punjab.

    October 2, 1997
  • 1997

    Cold Rolling plant in Indonesia commissioned

    Cold Rolling plant in Indonesia commissioned

    November 29, 1997
  • 2000

    Construction starts on Phase II of Visakhapatnam pellet plant

    Construction starts on Phase II of Visakhapatnam pellet plant

    November 27, 2000
  • 2002

    Commissioning of downstream complex at Hazira

    Commissioning of downstream complex at Hazira

    November 27, 2002
  • 2005

    Essar Steel commissions iron ore beneficiation plant in Bailadila and 267-km pipeline connecting Bailadila facility to Visakhapatnam pellet facility

    Essar Steel commissions iron ore beneficiation plant in Bailadila and 267-km pipeline connecting Bailadila facility to Visakhapatnam pellet facility

    November 27, 2005
  • 2006

    Essar Steel Hazira expands to 4.6 million tonnes; becomes largest flat steel producer

    Essar Steel Hazira expands to 4.6 million tonnes; becomes largest flat steel producer

    October 1, 2006
  • 2006

    Essar Oilfields Services acquires semi- submersible rig for US$220 million

    Essar Oilfields Services acquires semi- submersible rig for US$220 million

    November 17, 2006
  • 2007

    Essar Global acquires Minnesota Steel LLC, a US-based steel company with estimated iron ore reserves of over 1.4 billion tonnes in the Mesabi Iron Range, northeast Minnesota

    Essar Global acquires Minnesota Steel LLC, a US-based steel company with estimated iron ore reserves of over 1.4 billion tonnes in the Mesabi Iron Range, northeast Minnesota

    November 1, 2007
  • 2007

    Vodafone and Essar agree on partnership terms to establish Vodafone-Essar JV

    Vodafone and Essar agree on partnership terms to establish Vodafone-Essar JV

    November 29, 2007
  • 2007

    Essar acquires Global Vantedge, a Bermudabased BPO company

    Essar acquires Global Vantedge, a Bermudabased BPO company

    November 30, 2007
  • 2007

    Essar sets up The MobileStore, India’s first countrywide chain of multi-brand and multiservice retail outlets dealing in mobile telephony

    Essar sets up The MobileStore, India’s first countrywide chain of multi-brand and multiservice retail outlets dealing in mobile telephony

    November 30, 2007
  • 2008

    Essar Steel commissions Pipe Mill at Hazira

    Essar Steel commissions Pipe Mill at Hazira

    November 30, 2008
  • 2009

    Aegis debuts in Jammu & Kashmir by setting up two BPO centres in the state

    Aegis debuts in Jammu & Kashmir by setting up two BPO centres in the state

    November 26, 2009
  • 2009

    Essar Steel acquires colour coating facility in Pune

    Essar Steel acquires colour coating facility in Pune

    November 27, 2009
  • 2010

    Essar Steel commissions Plate Mill at Hazira

    Essar Steel commissions Plate Mill at Hazira

    November 30, 2010
  • 2011

    Essar Steel completes capacity expansion of Hazira Steel Complex to 10 million tonnes

    Essar Steel completes capacity expansion of Hazira Steel Complex to 10 million tonnes

    November 30, 2011
  • 2012

    Vadinar refinery capacity expanded to 18 MTPA

    Vadinar refinery capacity expanded to 18 MTPA

    November 30, 2012
  • 2013

    Essar Projects wins slew of contracts from Bharat Petroleum, Indian Oil, as well as international contracts in Abu Dhabi and Papua, New Guinea

    Essar Projects wins slew of contracts from Bharat Petroleum, Indian Oil, as well as international contracts in Abu Dhabi and Papua, New Guinea

    November 27, 2013
  • 2014

    Essar completes the sale of Aegis USA Inc. to Teleperformance

    Essar completes the sale of Aegis USA Inc. to Teleperformance

    November 26, 2014
  • 2015

    Essar Steel launches first ever online B2B market place, eHypermart

    Essar Steel launches first ever online B2B market place, eHypermart

    November 25, 2015
  • 2017

    Essar Energy and Oil Bidco successfully conclude sale of Essar Oil Limited to Rosneft and TrafiguraUCP consortium for US$12.9 billion

    Essar Energy and Oil Bidco successfully conclude sale of Essar Oil Limited to Rosneft and TrafiguraUCP consortium for US$12.9 billion

    November 27, 2017
  • 2018

    AGC Networks acquires Black Box, creating a significant global technology solutions provider

    AGC Networks acquires Black Box, creating a significant global technology solutions provider

    November 28, 2018
  • 2019

    Essar Global repays all debt to Indian and foreign lenders. Reduces groupwide debt by over Rs 130,000 crore

    Essar Global repays all debt to Indian and foreign lenders. Reduces groupwide debt by over Rs 130,000 crore

    November 27, 2019

Shashi Ruia

Founder

Mr Ruia began his career in the family business in 1965 under the guidance of his father, the late Nand Kishore Ruia. Along with brother Ravi, Shashi Ruia laid the foundation of Essar and spearheaded its business strategy, diversification and growth.

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Ravi Ruia

Founder

Ravi Ruia belongs to the generation of industrialists who have played a significant role in leading India’s industrial renaissance. His entrepreneurial abilities have enabled the Essar Global portfolio of companies to become one of the leading names in global industry.

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Prashant Ruia

Promoter

Prashant is part of the second generation of the Ruia family that founded Essar. Essar  was founded in 1969 by his father, Shashi Ruia and uncle Ravi Ruia.

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Anshuman Ruia

Promoter

Anshuman Ruia is known for his financial expertise and project execution skills. He has overseen Essar’s BPO and Power businesses,

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Smiti Kanodia

Promoter

Smiti is a self-driven business leader and a true entrepreneur at heart. With over 15 years of experience in diverse fields including media & publishing, corporate communications

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Rewant Ruia

Promoter

His global exposure, fresh perspectives and arc of activities has contributed to Essar’s strategy and operations in the mining, steel and retail sectors

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Vikash Saraf

Director Strategy, M&A

Vikash Saraf is Director (Strategy and M&A), Essar. Prior to joining Essar, Mr Saraf was executive director and CEO of SSKI Corporate Finance Ltd, a boutique investment bank specialising in infrastructure financing and advisory work. Mr. Saraf completed his Bachelor of Commerce from Shri Ram College of Commerce New Delhi and has a Management Degree from the Indian Institute of Management, Kolkata.

Dhanpat Nahata

Director Taxation & Structuring

With 20 years of experience in Strategy and M&A, Dhanpat has been associated with Essar for the past 17 years. In his current role, he led the USD 12.9-billion divestment of  Essar Oil Limited to Rosneft

Previously, Dhanpat was a Partner with Ernst & Young, India.

Uday Gujadhur

Member, Board of Directors

With 30 years of experience in the fields of taxation, setting up of offshore businesses and consulting, Uday serves as a director on the boards of various companies in Mauritius and as the Chairman of International Fiscal Association’s Mauritius Branch.

Arun Kumar Jain

Operating Partner- Projects

Prior to Essar, Mr Jain was associated with BHEL (Bharat Heavy Electrical Ltd). He has over 17 years’ experience in various leadership roles, having worked with companies, such as Bechtel and Fluor (India), where he was Managing Director for India business.

Sumesh Sawhney

Group General Counsel

With over 25 years of experience, Sumesh joins Essar from Lakshmikumaran & Sridharan (UK) LLP, London, where he served as the Partner and the Global Head of Corporate. Sumesh specialises in joint ventures, spin-offs and buy-out transactions in India. He is ranked in Chambers (Band 2) and Legal 500 and is widely recognized as an Indian M&A expert who has deep knowledge of the Indian market. He is qualified to practice law in England & Wales and in India. Prior to joining L&S, Sumesh worked as Partner with Jones Day, London, and was the Global Co-Head of India corporate practice at Clifford Chance.

Sumesh is an LL.B from Punjab University, Chandigarh, and is a qualified Chartered Secretary.

Madhu Vuppuluri

Director North America assets

With 35 years of experience in Corporate Finance and Strategy, Madhu heads Essar Global Fund’s investments in North America. Previously, he has worked in senior roles with various portfolio companies of Essar, including as CEO of Essar Steel Minnesota.

Jatinder Mehra

Director Metals and Mining

Mr Mehra joined Essar in 1997. He has more than 35 years of experience in the steel industry, having worked with Essar Steel, SAIL and Rashtriya Ispat Nigam. An Udyog Ratan award winner in 1994, he won the Tata Gold Medal for outstanding metallurgical contribution in 1995.

Peter Firmin

CFO, Mesabi Metallics

Corporate Film