Essar has signed three MoUs with the Government of Gujarat for a total investement of Rs 550 billion ahead of the Vibrant Gujarat Global Summit 2024. It has signed an MoU to develop a 1 GW green hydrogen project. This initiative involves an estimated investment of Rs 300 billion. The company announced an additional investment of Rs 160 billion for Phase II expansion at its Salaya power plant. In addition, Essar Ports is set to transform its Salaya port into a logistics hub with an investment of Rs 100 billion. Essar is in a renewed phase of making stategic investments in the field of energy transition, and the power and port sectors in the state. Over the past four decades, Essar has invested more than Rs 1,000 billion in the energy, metals and mining, and infrastructure sectors in Gujarat.
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