Essar may invest 1% of capex of India

Essar Group would invest 1% of the total capital expenditure of the country in India as it had done earlier, according to group director Prashant Ruia.

He disclosed this while addressing employees on Monday on the occasion of Independence Day celebrations. He did not quantify the investment to be made.  

“We promise to create sustainability-based businesses, build future-centric assets and ethical companies which will generate value for all stakeholders for the next 75 years, he said. 

“Let us resolve to lead the country into the new economy, the same way we did post liberalisation of the old economy,” he said. 

“It is now time to gain greater global presence, both as India and as Essar,” he added. 

Mr. Ruia said the group would participate in nation building and “lead the movement for clean and green India with a renewed vision and renewed vigour.”

He said Essar had set up the first private power plant in India, launched the first mobile telecom service, owned the first private oil tanker and built one of India’s largest integrated steel and refinery complex.  

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