Company Overview of Essar Global Holdings Limited
Essar Global Holdings Limited, through its subsidiaries, operates in steel, oil and gas, power, infrastructure, shipping, business process outsourcing (BPO), telecom, and real estate businesses. It produces steel products, such as pipes and plates for automotive, white goods, construction, engineering, and shipbuilding sectors. The company also provides cold rolling, galvanizing, and pre-coated services; and operates iron ore and coal mines. Additionally, it explores, produces, refines, and markets oil and gas including LPG, naphtha, light diesel oil, aviation turbine fuel, and kerosene. The company operates oil retail outlets. Furthermore, it offers power generation services. The company’s ...
11, Keshavrao Khadye Marg
Founded in 1969
Key Executives for Essar Global Holdings Limited
Managing Director, Group Chief Executive Officer and Director
Managing Director of Essar Steel India and Chief Executive Officer of Essar Steel India
Managing Director of Essar Oil Ltd. and Chief Executive Officer of Essar Oil Ltd
Chief Executive Officer of Telecom Business Group and Director
Compensation as of Fiscal Year 2015.
Essar Global Holdings Limited Key Developments
Rosneft and Essar Group Signs Long-Term Contract for Oil Supplies for the Purpose of Refining at the Vadinar Refinery
Jul 9 15
Rosneft chairman of the management board and Essar Group founder Shashi Ruia signed a long-term contract for oil supplies for the purpose of refining at the Vadinar refinery (India). The document was signed in Ufa within the BRICS summit in continuation of the agreements, reached in 2014 during the visit of the President of the Russian Federation Vladimir Putin to India. The contract envisages total supplies of 100 million tones of crude oil over a period of 10 years. Rosneft expands market outlet and amplifies the volume of supplies to the region, where growing points of the world's economy are concentrated. To this agreement Rosneft grants itself a secure market outlet of crude oil, which will create an additional possibility of production planning and marketing. Moreover, Rosneft and Essar shareholders signed a Term Sheet with regard to Rosneft's participation in the Vadinar refinery equity capital with a share of up to 49%. The principles laid down in the Term Sheet, will be reflected in final documents, which are subject to approvals. The implementation of the proposed transaction will increase the earning capacity of Rosneft operations in the region along the whole value chain and open new perspectives for the development of commercial activities in Asia-Pacific, will promote the expansion of the trading business' potential.
Adani Reportedly In Talks To Acquire Essar Power Transmission
Jun 17 15
Adani Enterprises Limited (BSE:512599) is in talks to acquire Essar Power Transmission Company Limited from Essar Global Holdings Limited, according to ET Now. The sale is expected to be valued at around INR 1.8 billion, ET Now reported. The deal is expected to be completed by September-December and will require regulatory approval to transfer licence from Essar to Adani. It will also require approval of lenders, including REC and PFC, according to ET Now.
Essar Global Pulls Out Of Acquisition Of Nokia's Chennai Mobile Manufacturing Unit
May 21 15
Essar Global Holdings Limited pull out of acquisition of Nokia Corporation (HLSE:NOK1V). Essar Group said on May 21, 2015, that it is no longer interested in buying Nokia's Chennai mobile manufacturing unit. "In recent times there has been a spate of media reports on Essar acquiring Nokia's Chennai plant. Essar confirms that it is no longer pursuing the deal and therefore categorically denies the media speculation around this subject," Essar said in statement.
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