Essar Group, Desert Technologies to develop $4.5 bn Green Steel Plant

12 Sep 2023 CW Team

India's Essar Group is moving forward with its ambitious plan to construct a $4.5 billion integrated Green Steel facility in Saudi Arabia. In a press release, Essar announced a substantial and enduring collaboration with Desert Technologies (DT), a solar photovoltaic (PV) company based in Saudi Arabia. Together, they will pioneer innovative solutions for renewable energy generation and storage, exclusively for Essar's Flat Steel Complex in Saudi Arabia. Notably, this complex represents the first-ever green steel initiative within the Gulf Cooperation Council (GCC) region.

The establishment of renewable energy solutions for Essar's Green Steel Arabia (GSA) project in Saudi Arabia is poised to propel the nation to the forefront of green steel production and sustainable energy generation, as articulated in the company's official statement.

The project is slated to commence production operations by 2027. Upon completion, it will cater to critical steel-consuming sectors, including construction, oil and gas, automotive, packaging, and general engineering.

Naushad Ansari, the Country Head for Essar Group in Saudi Arabia, emphasised that this partnership with Desert Technologies has been established to gain access to eco-friendly and carbon-neutral energy storage solutions. Khaled Sharbatly, the Chief Executive Officer of DT Investments, underscored the significance of cost competitiveness and environmentally friendly solutions, envisioning a significant boost for the burgeoning low-CO2 emission steel industry.

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