Pledges to invest 1 percent of the total capital expenditure of the country as was done earlier by the group
Mumbai (India CSR): Under the ‘Har Ghar Tiranga’ campaign, Prashant Ruia, Director, Essar, took a pledge and made a promise to participate in nation-building and lead the movement for Clean and Green India with a renewed vision and renewed vigour.
Movement for ‘Clean India, Green India’
Speaking during the company’s celebration of India’s 75 years of Independence, in the presence of all Essarites, Prashant Ruia said, “On the diamond jubilee of our national independence, we at Essar have a pledge to make a promise to keep. We, Essarites pledge to rededicate ourselves, with a new vision and renewed vigour, using our 50 years of experience and entrepreneurship to participate in nation building and leading the movement for Clean India, Green India; that is our Dream India”.
Promise to create sustainability-based business
“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. In keeping the pledge and delivering the promise I seek your full support and commitment; first as conscious and proud citizens of India and second as professionals of Essar”, he added.
First in Row
Through his strong address, Ruia highlighted the rich history of the group which has worked tirelessly in line with the national need by setting up the first private power plant in India, launching the first mobile telecom service, owning the first private oil tanker and building one of India’s largest integrated steel and refinery complexes.
Time to gain greater global presence
Ruia concluded his captivating message by saying “Let us now resolve to lead the country into the new economy, the same way we did post liberalisation of the old economy. Let us resolve to invest 1 percent of the total capital expenditure of the country as we have done earlier. As we achieve, we grow. It is now time to gain greater global presence, both as India and as Essar”.
The Essar Capital
Essar Capital Limited (Essar Capital) is the investment manager of Essar Global Fund Limited (EGFL). It monitors and manages the entire portfolio of investments owned by EGFL.
EGFL is a global investor, owning several world-class assets diversified across the core sectors of Energy (comprising Exploration & Production, Refining, Marketing and Power businesses), Infrastructure (comprising Ports and Stanlow Terminals), Metals & Mining, Services & Technology (comprising Shipping, Oilfield services, Projects, Technology Solutions, Device protection and Customer experience). EGFL invests long-term capital into the portfolio companies and holds nearly 100% stake in all its investments. EGFL invests with a sense of active ownership, which involves direct engagement with the management of the respective businesses. The portfolio companies have aggregate revenues of about USD 13 billion and employ over 7,000 people.
