Essar intends to spend $12000 crore on the construction of a 250 km slurry pipeline, a pellet factory at Paradip port, and a 14 mtpa export-oriented pelletizing complex with an iron ore fines beneficiation plant in Keonjhar.
A brief about Essar Company plans to invest ₹12000 Crore pellet complex in Odisha:
In addition to this, the business intends to build a 7.5 mtpa crude-to-petrochemical plant in collaboration with a foreign player for an estimated 40,000 crore.
The corporation is currently considering reinvesting in creating new assets and enhancing current operations both in India and abroad.
According to Prashant Ruia, Director at Essar Capital, the company pioneered the construction of a 260 km slurry pipeline to Paradip and a 12 mtpa iron ore pellet mill roughly 13 years ago, which helped Odisha realize its potential and become the nation’s leader in the minerals and mining sector.
He stated at the Make in Odisha Conclave that Essar is once again prepared to make sizable new investments in metals, mining, and energy in Odisha.
Recent accomplishments of Essar include the completion of its asset monetization program and the repayment of $25 billion (2,00,000 crore) in debt, thus leaving the business debt-free. The corporation is currently considering reinvesting in the development of new assets and the bolstering of current activities in India and abroad using cutting-edge, modern, and carbon-neutral new-age technologies.