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.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..