Ruia-family owned Essar Group would deleverage about Rs 1.25 lakh crore of debt – the largest by any corporate if its offer to repay lenders of Essar Steel in full is accepted, company sources said.
State Bank of India has approached the Supreme Court to implement the recommendations of a committee that had suggested increasing tariffs or waiving a portion of the loan owed by Adani, Tata and Essar Group’s power companies.
Essar Power, the wholly owned subsidiary of Ruia-owned Essar Group, has announced that the second 600 MW unit of Mahan Power Plant in Madhya Pradesh has been completed at a cost of Rs 8,000 crore, reports Economic Times.
Ruia family-owned Essar Group has started supply of gas produced from coal seams to state-owned GAIL India.
In a tweet, the group said Essar Oil and Gas Exploration and Production Ltd (EOGEPL) “commenced supply of CBM gas
The Ruias-controlled Essar Group is fighting off a challenge from a US-based hedge fund which is eyeing Essar’s assets in the UK, including the Stanlow oil refinery, to settle unpaid dues.
The Essar Group expects turnover from coal bed methane (CBM) to touch ?600 crore in 2018-19 and double that in the subsequent two years, according to Vilas Tawde, chief executive officer of Essar Oil and Gas Exploration and Production.
The Essar Group expects turnover from coal bed methane (CBM) to touch Rs 600 crore in 2018-19 and double that in the subsequent two years, according to Vilas Tawde, chief executive officer of Essar Oil and Gas Exploration and Production.
Adani Global Private Ltd, a Singapore-based company of the Adani Group, has moved the high court of Singapore seeking a stay on a demand to produce documents pertaining to Indonesian coal imports from Adani’s subsidiaries
Reeling under debts, Ruias-promoted Essar Group intends to lower 67 per cent of its consolidated debt by using proceeds received from sale of 98.26 per cent stake in Essar Oil to Rosneft and its partners which was concluded on Monday
The Ruias-led Essar Group on Monday said it would sell its business process outsourcing (BPO) unit, Aegis, to Singapore-based private equity firm Capital Square Partners, and exit its BPO business.