Essar plans port for its African steel plant

The Essar group is planning to expand its presence in the African continent by setting up a 10-million tonne (mt) port in Mozambique, at a cost of $275 million (Rs 1,496 crore). “As a group,......

IndianOil to set up refinery in Sri Lanka for Rs 20,000 cr

Indian Oil Corporation will set up its first refinery outside India with an investment of up to Rs 20,000 crore (Rs 200 billion) in Sri Lanka.It will thus become the second Indian company to have a......

Essar to buy US coal firm for $550-600 mn

The Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-600 million (Rs 2,500-2,735 crore). Trinity is owned by private equity investment......

Essar to buy 50% stake in Kenyan refinery

Ruias-owned Essar will take a 50 per cent stake in Kenya's only refinery in Mombasa, the African nation's Energy Minister Kiraitu Murungi said on Wednesday. Essar Energy Overseas Ltd, a subsidiary......