Indian conglomerate Essar reveals ambitious plans to inject $6.6 billion into Gujarat’s energy transition, power, and port sectors. This strategic move comes on the heels of Essar successfully eliminating a substantial debt load, achieving a debt-free status last year through strategic divestments in telecoms, oil refining, and steel.
The planned 550 billion Indian rupee investment in Gujarat encompasses a groundbreaking one-gigawatt green hydrogen project, expansion initiatives at Essar’s Salaya power plant, and increased financial backing for the Salaya port.
Positioned at the intersection of sustainable energy and infrastructure development, Essar’s substantial investment signifies a forward-looking commitment to green initiatives and critical sectoral growth in the state.
Essar’s significant capital infusion underscores its renewed focus on key sectors, heralding a transformative phase for the conglomerate’s operations in Gujarat.