Essar signs 3MoUs worth Rs 55K cr in logistics

Essar signed three Memorandums of Understanding (MOUs) with the Government of Gujarat for a total investement of Rs 55,000 crore ahead of the Vibrant Gujarat Global Summit 2024. Essar is in a renewed phase of making stategic investements in the field of Energy Transition, Power and Port sectors in the state. This initiative aims to create over 10,000 job opportunities. Over the last four decades, Essar has invested more than Rs 1 lakh crore in the Energy, Metals & Mining and Infrastructure sectors in Gujarat. Gujarat has played a crucial role in Essar’s growth story. The company’s investments in core industrial projects have enhanced the state’s industrial landscape, serving as a case-study for the state’s potential as an investment destination.

On the signing of the MoU, Mr. Prashant Ruia, Director at Essar Capital, commented, “Gujarat has consistently been at the forefront of Essar’s strategic investments. We are delighted to further contribute to the state’s economic progress with an additional investment of Rs 55,000 crore in the Energy & Infrastructure sectors.”