Bengaluru: Essar has signed three Memorandums of Understanding (MOUs) with the Government of Gujarat, ahead of the Vibrant Gujarat Global Summit 2024, marking a total investment of Rs 55,000 crore.
The renewed phase of investments by Essar focuses on the Energy Transition, Power, and Port sectors in the state, with a goal to generate over 10,000 job opportunities.
Over the past four decades, Essar has invested more than Rs 1 lakh crore in Gujarat’s Energy, Metals & Mining, and Infrastructure sectors.
Breakdown of Investments:
1. Energy Transition:
Agreement for a 1 Gigawatt Green Hydrogen project, requiring an estimated investment of Rs 30,000 crore.
2. Power Generation:
A Phase-II expansion at its Salaya Power Plant, with an additional investment of Rs 16,000 crore.
3. Ports Sector:
Transform of the Salaya port into a logistics hub with a Rs 10,000 crore investment.
