Essar Global Fund Limited (EGFL), which owns a number of world-class assets diversified across the core sectors of Energy, Infrastructure, Metals & Mining and Service and Technology, has significant investments in Vietnam in the conventional hydrocarbon and CBM space. On Tuesday, 16 November 2021, Essar hosted the Vietnamese delegation at Essar House, Mumbai.
The Founding Family of Essar represented by Shri Ravi Ruia and Shri Rewant Ruia, along with other senior management members from EGFL, welcomed the guests. The Vietnamese delegation was led by HE Ambassador Pham Sanh Chau, and its members included Counsellor Mr. Bui Trung Thuong, Head of Trade Office, First Secretary Mr. Bui Anh Dung, Science & Technology Cooperation Office, Vice Consul Mr. Duong Duc Anh, Consulate General of Vietnam in Mumbai, Attache Mr. Nguyen Luong Duc, Investment and Tourism and Attache Mr. Pham Nhu Y, Consular Section.
Senior members from EGFL, who were part of the discussions, included Mr. B C Tripathi, Vice Chairman – Exploration & Production (Essar Capital), Mr. Aloke Goenka, Sr. Vice President – Corporate Planning, Mr. Amol Saxena, Head-Business Development & Strategy, General Management – (Oil & Gas), and Mr. Asad Lalljee, Sr. Vice President, CEO – AVID Learning.
Essar’s leadership and the Vietnamese delegation discussed key strategic and important developments with regards EGFL’s investments and plans, especially in relation to Block-114 at Ken Bau (Vietnam), which is a joint venture with Essar Exploration & Production Limited (EEPL) and ENI, Italy. Acquired in 2010, it is the most prolific hydrocarbon block of Vietnam. Opportunities in core areas of Essar, which included CBM, Petrochemicals, Ports and Infrastructure were also discussed during the meeting.
While cultural and economic links between India and Vietnam date back to 2nd century, 1992 was a landmark year where India and Vietnam established extensive economic ties, including oil exploration, agriculture and manufacturing. Essar Global Fund’s investment in Vietnam will further strengthen the cordial ties between the two countries, opening more opportunities for prosperity between both nations.