Essar completes sale of port assets to Arcelor/Nippon

23 Nov 2022 CW Team

Essar Ports & Terminals Ltd (EPTL) and Essar Power Ltd (EPL) have concluded the sale of captive ports and power assets located in Hazira and Paradip to Arcelor Mittal Nippon Steel India (AM/NS) in a $2.05 billion (Rs 165 billion) deal. The infrastructure assets sold include a 270 MW power plant and 25 MPTA port at Hazira, Gujarat and a 12 MPTA port at Paradip, Odisha.

Prashant Ruia, director, Essar Capital, said, “Essar has concluded its asset monetisation programme and completed the debt repayment of $25 billion (Rs 2 trillion), effectively making the group debt-free from Indian banks and financial institutions.”

Essar continues to have a significant presence and substantial operating assets in all its core verticals – energy, metals and mining, infrastructure and logistics and technology and retail. The privately held group currently has revenues of $15 billion (Rs 1.2 trillion) and assets under management of $8 billion (Rs 640 billion) within and outside India.

Rewant Ruia, director, Essar Ports Terminals, said, “In a planned and strategic manner, we have monetised assets that we built over last 30 years. We are now reinvesting in our existing operations and in building new assets, both in India and overseas, with more efficient, latest and carbon neutral new-age technologies, which will be sustainable.”

Infrastructure Transport

30 May 2026

Chembur Metro to Boost East Mumbai Links

MMRDA is advancing eastern Mumbai’s urban mobility network, with the upcoming Chembur Metro Station set to emerge as a key interchange and the Mumbai Monorail preparing for relaunch.Dr Sanjay Mukherjee, Metropolitan Commissioner, MMRDA, conducted a site visit to Chembur Metro Station along with Kanhuraj Bagate, Managing Director, MMMOCL. He also visited the nearby VN Purav Monorail Station to review system preparedness and ease of interconnectivity.Once operational, the interchange is expected to offer commuters across the eastern suburbs quicker access, smoother transfers and seamless conne..

Herrenknecht TBMs Drive Thane–Borivali Tunnel Progress

Herrenknecht India has supplied two of the four tunnel boring machines (TBMs) required for the 11-km Thane–Borivali Twin Tunnel Project being developed by the Mumbai Metropolitan Region Development Authority (MMRDA). The project is expected to reduce travel time between Thane and Borivali from 60–90 minutes to around 15 minutes while easing congestion across the Mumbai Metropolitan Region.The first two Single Shield TBMs, named Nayak and Arjuna, feature 13.34-m cutterhead diameters and are designed for hard-rock excavation. They will be deployed to tunnel through the challenging geological..

KBL Launches Smart Skid Mounted Fire Pump Set

Kirloskar Brothers (KBL) has launched its Smart Skid Mounted Fire Pump Set, an integrated fire protection solution designed to improve operational efficiency, remote monitoring and installation flexibility. The system was inaugurated by Ms Madhuritai Misal, Hon. Minister of State for Urban Development, Government of Maharashtra.The Smart Skid Mounted Fire Pump Set is a factory-tested, pre-packaged solution that combines FM/UL-certified motor and engine pump sets with IoT-enabled remote monitoring. Designed to deliver a flow rate of 170 m³/hr at a head of 100 metres, the system aims to provide..