A Glimpse of Our October Journey

Welcome to the third edition of our monthly newsletter. Let’s reflect on the month of October 2023 and get glimpses of the remarkable achievements of Essar and its diverse array of portfolio companies in various industries. So stay connected, stay informed!

Here are the top 6 things that happened in the month of October:

1. 7th Edition of the FII (Future Investment Initiative)

At the 7th FII in Riyadh, Essar Capital's Director, Prashant Ruia , spotlighted Essar's $4.5 billion investment in a steel plant at Ras Al-Khair, emphasising that they would further foray into port infrastructure and tech sectors in the region. This strategic move initiates more investments, including the development of a Riyadh hub and Black Box's tech expansion. Essar is eyeing non-oil sector projects aligned with Saudi Vision 2030, collaborating with Saudi government for building sustainable businesses in the region.

?

2. Investment of INR 150,000 crore in Vibrant Gujarat

Essar has been steadfast towards its dedication to Vibrant Gujarat since its inception in 2003, having invested Rs 150,000 crore in the state's core industries and infrastructure. Anticipation mounts for #VibrantGujarat2024 as Essar gears up to unveil future investments in Green Hydrogen, power generation, and port sectors. This forthcoming participation marks a significant step in their continued commitment to Gujarat's development across various crucial sectors.

?

3. A chat with Moneycontrol at the sidelines of the Global Maritime Summit

Essar Ports, led by MD & CEO Rajiv Agarwal , aims to invest Rs 6,000–7,000 crore to boost Salaya Port's capacity to 100 mtpa within 5 years. In an interview with Moneycontrol, Mr. Agarwal spoke about the company’s plans to make it a green port, focusing on green hydrogen, biofuel storage, and LNG. Further, Essar Ports intends to establish rail and highway connectivity from Jamnagar to Amritsar. Mr Agarwal attended the Global Maritime India Summit 2023, where the future of maritime was discussed with other industry leaders.

?

4. The Time Is Now blog

Mr Tony Fountain , Managing Partner, Essar Energy Transition, and Non-Executive Director, Essar, in his blog for the Confederation of Indian Industry, writes about how businesses can actively contribute to government efforts in reaching their net zero goals. Titled ‘The Time is Now’, the blog outlined how the net-zero strategy involves renewable energy, hydrogen, and biofuels. He urges corporations to restructure investments and operations towards decarbonisation, and integrate low-carbon logistics, effect industry shifts, and utilise transitional fuels like LNG. The aim is to collaborate with governments to achieve net-zero goals and tackle this global challenge.

?

5. Meeting Digital Demands with Strategic Investments

Black Box, the key tech investment of Essar, is poised to make substantial investments over three years to meet rising customer demand for digital infrastructure, data centres, and cybersecurity solutions. Emphasising its commitment to digital transformation amid a dynamic landscape, Black Box remains resolute in its dedication to meeting evolving client needs.

?

6. Essar Drives Sustainability with Green Logistics

Hindustan Zinc, targeting Net Zero emissions, partners with GreenLine Mobility Solutions, to deploy LNG-powered trucks by investing ?200 crore. This collaboration aims to significantly reduce emissions, aligning with sustainability objectives. The move sets new standards for green logistics, with GreenLine pioneering eco-friendly freight transportation, reducing CO2, SOx, NOx, particulate matter, and CO emissions. Their efforts create India's first integrated green logistics ecosystem, promoting widespread adoption of LNG-powered long-haul trucks.

?

Thanks for reading our newsletter for the month of October 2023. We will continue to keep you informed about our initiatives, achievements, and latest news. Thank you for joining us on this exciting new journey, and we can't wait to bring you more insightful content in the months to come. Until next time!