Essar Steel Share Price

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• Essar Steel Ltd, established on August 7, 2020, is in the process of constructing a 4-MTPA steel plant located in Ras Al-Khair, Kingdom of Saudi Arabia (KSA). This ambitious project is set to become the largest integrated flat steel complex throughout the entire MENA (Middle East & North Africa) region. Notably, the project is committed to utilizing eco-friendly technology to create a forward-looking facility that offers the flexibility to employ Hydrogen as the reducing agent within the Direct Reduced Iron (DRI) plant. Furthermore, the plant will incorporate by-product heat recovery systems to minimize CO2 emissions. With an allocated land area of approximately 315 hectares, the site benefits from excellent connectivity to essential utilities. The plant's configuration is a testament to its excellence, incorporating the best available technologies for optimal performance.
  
• The group had previously sold Essar Steel an earlier venture to L N Mittal for Rs 42,000 crore in 2019, resulting in a significant reduction of debt. 
  
• The company plans to invest $8 billion over three to 4 years in projects located in Saudi Arabia, the USA, and India. The company is also constructing a steel plant with a 3 million tonnes per year capacity..
• Essar Group is among the 5 shortlisted bidders for National Mineral Development Corporation's disinvestment.
• Industry veterans like Anil Kumar Chaudhury and Amit Sen, former SAIL executives, have been hired by the company for to oversee the project. Jatinder Mehra will serve as the vice-chairman, overseeing the operation.