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Essar to invest Rs 55,000 crore in Gujarat for green energy, power and ports

Ahmedabad, December 14, 2023: : Essar has signed three MOUs with the Gujarat government for investing Rs 55,000 crore in the energy transition, power and ports sectors. The announcement was made ahead of the Vibrant Gujarat Global Summit 2024. Essar aims to create over 10,000 jobs with these projects, which include a 1 GW green hydrogen plant, a phase-II expansion of its Salaya power plant, and a logistics hub at its Salaya port.

Essar has been a major investor in Gujarat for over four decades, with over Rs 1 lakh crore invested in various industrial sectors. Essar’s director Prashant Ruia said the company was delighted to further contribute to the state’s economic progress.

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