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Topic: Essar

In the News (Tue 21 May 19)

  Essar chases iron in Australia
The Essar group will invest Rs 3,500 crore in Australia, which will include acquisition of a stake in Australian iron ore mine company Cape Lambert, setting up a 7.5 million tonne pellet unit near the ore deposit, a pipeline and a concentrator facility.
Essar Steel, a part of the Essar group, has an 8 million tonne pellet plant in Visakhapatnam.
Essar Steel is also in the process of setting up a second pellet unit in its integrated steel plant in Orissa.
www.rediff.com /money/2006/nov/17essar.htm   (298 words)

  ESSAR   (Site not responding. Last check: 2007-10-30)
When Essar Oil's (EOL)10.5 MPTA refinery at Vadinar(near Jamnagar, Gujarat, India) is commissioned in the third quarter of 2004, its presence throughout the energy value chain will be complete.
Essar Oil's expertise in the oil sector extends back to the 1980s with its Energy division's leadership in contract drilling.
Essar Oil owns and operates 11 rigs in the Middle East and India, the country's largest and most versatile range of rigs for oil and gas exploration.
www.naukri.com /jg/essar/oil.htm   (102 words)

 ESSAR   (Site not responding. Last check: 2007-10-30)
Essar along with Hong Kong based Hutchison Whampoa is one of India's largest cellular service providers covering all four Indian metros and six Indian states.
The states of Haryana, East U.P. and Rajasthan are run independently by Essar (Aircell Digilink Ltd.) and partners the Hutchison group in the metros of Delhi (Hutchison Essar Telecom Limited), Mumbai and Kolkata and Gujarat.
In addition, Hutchison Essar South Limited has begun operations in 2002 as a fourth cellular operator in the South Indian states of Andhra Pradesh, Karnataka and the metro of Chennai.
www.naukri.com /jg/essar/telecom.htm   (172 words)

 [No title]
Essar stated that its application was prompted by a group of foreign lenders that refused to agree to the terms of the company's debt restructuring package.\4\ The foreign lenders' share of Essar's total debt was sufficient to block the company's corporate restructuring from going forward.
Essar further claimed that without a declaration under the BRU, the company's lenders would file a petition declaring that the company was insolvent, an action that Essar claimed would cause it to eliminate jobs.
Essar's restructuring package included the extension of loan due dates until 2017, and a lowering of interest rates for all lenders who had not yet changed the interest rates that they were charging.
ia.ita.doc.gov /frn/0401frn/04-330.txt   (7305 words)

 domain-B : Indian business : Essar to acquire Algoma Steel of Canada for $1.58 billion
The deal must be approved by Algoma's shareholders by the affirmative vote of at least 66 per cent of the votes cast, in person or by proxy, at a shareholders meeting, and is subject to customary closing conditions and other necessary regulatory approvals.
Essar Global, which operates in areas such as steel, oil and gas, power, communications, shipping and logistics and construction, is expecting revenues of around $10 billion by the end of 2007-08.
Stikeman Elliott LLP is acting as legal counsel to Essar, and Torys LLP is acting as legal counsel to Algoma Steel.
www.domainb.com /companies/companies_e/essar_steel/20070416_acquire.html   (408 words)

 HardNews - Essar: A leader in core sectors
Essar, today, is in a consolidation phase after the exciting growth in its businesses during the last decade.
Essar Oil's Ratna and R Series oil fields have an estimated 500 million barrels of oil in addition to its five exploration blocks and two CBM blocks.
Essar has planned a 4 MT steel plant at Paradeep, 1000 MW power plant at Angul and is exploring possibility of lease of chromite and bauxite mine for further value addition in the state.
www.hardnewsmedia.com /apr05/supp1.php   (743 words)

Essar's businesses are at the heart of the Indian economy - Steel production, Exploration and Drilling of Oil, Power generation, Constructions, Shipping and lately the sunrise sector of telecom services, to continue the Group's rapid growth.
Essar was an early applicant for an oil refinery and bidders for drilling contracts and oilfield exploration rights.
As a key player in the new economy, Essar relies on a mix of subsidiaries, strategic alliances and partnerships to remain flexible and competitive.
www.naukri.com /jg/essar/about.htm   (288 words)

 Essar Oil cuts supply by 25%
Weighed down by the surge in international crude oil prices, Essar Oil has curtailed supply to its dealers across the country and has deferred the commissioning of its 12-million-tonne Jamnagar refinery to September or October next year.
Essar purchases its petrol and diesel from the Numaligadh refinery, the Kochi Refinery and the Mangalore refinery.
Essar supplies 2,40,000 kilolitre of petrol and around 1,80,000 kilolitre per month to its dealers across the country.
inhome.rediff.com /money/2005/sep/19essar.htm   (432 words)

 rediff.com: Money channel - The race for Hutch-Essar
Hutch stake: Asim Ghosh, Analjit Singh to clarify
Essar in talks with global players for group businesses: Ravi
Essar to continue as partner in Hutch-Essar: Ruia
www.rediff.com /money/hutch07.html   (216 words)

 Essar Power-Marathon deal set to miss August 31 deadline
It is insisting that Essar Steel should retain at least 25 per cent stake in the company to be able to get 215 mw power at a concessional rate--a proposal which has not found favour with the Essar group.
Essar Power is believed to have approached the state government with a proposal for continuing with the existing power supply arrangement despite the change of ownership ofEssar Power as otherwise Essar Steel's commercial viability would be serverely affected.
Essar is believed to have rejected the Marathon condition on staying away from the power sector in future.
www.expressindia.com /fe/daily/19990817/fco17024.html   (675 words)

 CIOL : News : Hutchison, Essar: refusal rights   (Site not responding. Last check: 2007-10-30)
Essar group, which controls 33 percent of the venture, is reported to want to buy all or part of the stake.
MUMBAI: Hutchison Telecommunications International Ltd. and India's Essar group differ on their interpretation of a first right of refusal clause in their Indian joint venture, Indian newspapers said on Wednesday.
Sources close to Hutchison said "crucial conditions" associated with a first right of refusal for the Essar group in the event the Hong Kong company wanted to sell its stake had not been met, the paper reported.
www.ciol.com /content/news/2007/107010312.asp   (463 words)

 Welcome to Essar Steel
Essar Global to acquire Minnesota Steel; invest USD 1.65 billion to build an integrated steel plant
Chairman's Speech at the AGM of Essar Steel on September 17, 2005.
Essar Steel's 1.2 million tonne Cold Rolling Complex goes on stream.
www.essarsteel.com /steel/steelpr.htm   (225 words)

 Essar Steel seeks 90-day FRN reprieve   (Site not responding. Last check: 2007-10-30)
It is believed that Essar Steel may yet again submit a fresh proposal to the domestic financial institutions (FIs) for refinancing the FRNs.
Though internationally, the borrowing norms for steel companies indicate a higher maturity profile for debt of around 12-15 years, Essar was forced to borrow with a tenor of five years as per the then finance ministry guidelines.
Essar Steel was, however, hit by historically low international steel prices, resulting in lower realisations for the company.
www.financialexpress.com /fe/daily/19990720/fco20048.html   (479 words)

 Gulfnews: Essar to supply hot-rolled coil to Iran pipe firm
Essar Steel is part of the Essar Group, which has interests in steel, shipping, power, telecom and construction.
Essar Steel's modern 2.4 million tonnes per annum hot-rolled coil plant at Hazira, Gujarat, is the first and largest of India's new generation steel mills.
Essar Steel is India's first integrated steel plant to receive both ISO 9002 and ISO 14001 certification for best environment management practices.
archive.gulfnews.com /articles/03/09/24/98443.html   (368 words)

 Essar selling diesel, petrol at a discount
Essar Oil, the first domestic private oil major to set up retail outlets after 102 years, has decided to lure customers by selling petrol and diesel at a discount to prices charged by state-run oil companies.
Essar unveiled its second retail outlet in Gujarat early this week.
Dear Sir, We are very pleased to hear that ESSAR launched their retail diesel, petrol outlets in India.
in.rediff.com /money/2003/nov/12essar.htm   (420 words)

 ESSAR   (Site not responding. Last check: 2007-10-30)
Essar Steel produces some of the world's best steel at its state-of-the-art steel complex in Hazira, Gujarat.
Essar Steel has poured in billions of rupees over the last decade on the latest technology and forward and backward integration to ensure that its products are truly world class.
Essar ensures excellent customer service through a modern distribution network.
www.naukri.com /jg/essar/steel.htm   (117 words)

 News Centre@myiris.com India's Most Comprehensive Financial Destination   (Site not responding. Last check: 2007-10-30)
Essar Steel (Q, N,C,F)* has approached State Bank of India and the England-based Barclays to raise a five-year loan of $120 million (about Rs 540 crore) to fund its expansion plans, reports Business Standard.
Essar is raising the funds to finance the last phase of its Rs 2,000 crore expansion, launched last year.
Essar is the second major steelmaker after Tata Steel to raise resources.
www.myiris.com /newsCentre/storyShow.php?fileR=20060214094933002&dir=2006/02/14&secID=corporates&code1=&code=   (330 words)

 Essar Steel exploring plant in Iran : HindustanTimes.com   (Site not responding. Last check: 2007-10-30)
Essar Steel Ltd, India's second-biggest private steel company, is in preliminary talks to set up a steel plant in Iran, an industry source said on Monday.
Essar Steel has made presentations to an Iranian company to build a steel plant as a joint venture, or provide technical expertise, the source said.
Essar expects its steel shipments to rise to 2.5 million tonne in the current year ending March, from two million tonne a year earlier.
www.hindustantimes.com /news/181_1251071,0002.htm   (194 words)

 Khaleej Times Online
Essar Group's interest in the projects was conveyed to the Fujriah government when a high-powered delegation from the emirate led by Shaikh Saleh Mohammed Al Sharqi, Chairman of the Department of Industry and Economy, visited India recently.
Essar Steel, which is currently on an aggressive capacity expansion mode, is one of the several major Indian corporates which have expressed interests in setting up manufacturing plants at the Fujairah Free Zone, according to "Fujairah Business Today," a publication of the emirate's Free Zone Authority.
Essar Global, along with Germany's SMS Meer, was one of the bidders for the EPC contract for the proposed steel plant.
www.khaleejtimes.com /DisplayArticle.asp?xfile=data/business/2005/December/business_December576.xml§ion=business&col=class=stories   (606 words)

 Hydrocarbons Technology - Essar Oil Refinery, Vadinar, Gujarat
Essar Oil Ltd reported in February 2005 that the grass roots refinery it has been constructing in Gujarat, India, since 1996 is finally back on track and due to be completed within two years.
Essar oil Ltd is expected to 'construct / develop' the new port over 18 months in conjunction with the Housing and Urban Development Corporation Ltd (HUDCO), who will provide a portion of the cost (estimated at Rs500 crore).
In January 2005, Essar Projects raised Rs375 crore through Global Depository Receipts (GDR) and Essar Shipping raised $213 million through the issuing of Foreign Currency Convertible Bonds (FCCB), to make a total of $299 million (this was a condition of the remaining funds being released).
www.hydrocarbons-technology.com /projects/essar   (1244 words)

 IOC again rejects Essar stake offer- The Economic Times   (Site not responding. Last check: 2007-10-30)
ioc has indicated to essar oil via the petroleum ministry that it is not interested in equity participation in the gujarat-based refinery as the country is surplus in oil products, a company source said.
essar oil is said to have revived the proposal two months ago, the source added.
essar oil had also sought a marketing tie-up with ioc for selling its products after its refinery was completed.
economictimes.indiatimes.com /Articleshow.asp?art_id%3D7742565   (403 words)

 Alexander's Gas & Oil Connections - India Essar Oil quits offshore drilling   (Site not responding. Last check: 2007-10-30)
"In view of the emerging economics in the international drilling activity, Essar Oil Ltd considers it prudent not to continue as an independent two-rig operator," it said in a statement.
Essar Oil said it sold the two offshore rigs for approximately 1.9 billion rupees ($ 53 mm).
Essar said it won two new onshore drilling contracts for 1.25 billion rupees from Petroleum Development of Oman, taking the total drilling contracts executed by it in the Middle East to seven.
www.gasandoil.com /goc/company/cns70801.htm   (157 words)

 Vodafone Agreement with Essar
Essar is a major industrial group with a deep understanding of India and the Indian mobile telecommunications industry.
Essar was a founding partner in Hutchison Essar and played an active role in building the company, including extending network coverage into several profitable regional markets.
The results of Hutchison Essar are prepared in accordance with Hong Kong Financial Reporting Standards which may differ in material respects from the accounting principles applied by Vodafone.
www.advfn.com /news_Agreement-with-Essar_19807939.html   (1064 words)

 Alexander's Gas & Oil Connections - Essar Oil starts fuel retail sales   (Site not responding. Last check: 2007-10-30)
Essar Oil had received licence to set up petrol pumps last year.
In two years' time Essar expects to market fuels including diesel, petrol, LPG and various fuel oils refined at its 240,000 bpd refinery being set up at Vadinar, Jamnagr in Gujarat.
Essar Oil belongs to the Essar Group which has an asset base of $ 3.6 bn and has business interests ranging from oil, steel, shipping, power generation, telecom and construction.
www.gasandoil.com /goc/company/cns34011.htm   (425 words)

 Hutchison-Essar: Inflated Ambitions   (Site not responding. Last check: 2007-10-30)
Essar, which is the second largest holder in the Hutch JV, has also thrown its hat in the ring with $11 bn for the remaining stake.
Hutchison Essar was pegged at $9-9.5 bn in June 2005 and at that time if Hutch had made its intentions clear, of selling its stake, it would have been the most sought after buying target.
Though buying Hutchison Essar would provide a much-needed fillip to Reliance Communications and Vodafone's businesses, as the former is keen to ramp-up its GSM operations while the latter would get a smooth entry in the Indian telecom market-but the unrealistic bid-up is likely to result in low value, even over the long run.
www.voicendata.com /content/service_provider/107020707.asp   (1068 words)

 prdomain | Essar Steel
Essar Steel is a versatile manufacturer, catering to different product segments like roofing, automobiles, oil and gas, shipbuilding, fabrication and white goods.
Essar Steel is among the 25 percentile of lowest cost producers world-wide.
Essar Steel is a part of the Essar Group, which has interests in steel, oil and gas, power, telecom and BPO, shipping and construction.
www.prdomain.com /companies/E/EssarSteel/co_index.asp   (146 words)

 .: Welcome to Essar :.   (Site not responding. Last check: 2007-10-30)
Essar Oil Ltd (EOL) will hold the meeting of its debenture holders on October 26, after a gap of over a year.
It is planning to clear off the Rs 460 crore dues it owes to group company, Essar Power, by handing out 0.01 per cent cumulative convertible preference (CCP) shares.
After commencing petroleum retailing less than a year ago in September 2003, Essar Oil Ltd has chalked out a major expansion plan and aims to set up over 500 retail outlets by the end of the current fiscal year.
www.essar.co.id /news-internal.php   (210 words)

 Business World - Cover story
The rest is held by the Essar group, which also owns almost the entire stake in Aircell Digilink, the cellular licence holder for Haryana, Rajasthan and UP East (Aircell Digilink had its licence terminated in May 1999 for not paying up its licence fee dues).
In end-1999, when the Essar group approached financial services company GE Capital Services for a loan worth Rs 650 crore to pump into its cellular operations, it could manage to get the money only after the loan was guaranteed by none other than partner Hutchison.
In fact, insiders at Essar say that the Ruias have entered into a tacit agreement with Hutchison that entails Essar's exit from the telecom business in favour of the multinational when these telecom companies are ready to go for an initial public offer (IPO) in the not-too-distant future.
www.businessworldindia.com /archive/200605/mktg3.htm   (1180 words)

 Hutch Essar to bid farewell to India? : hutch, essar, telecom, bid farewell, Vodaphone : IBNLive.com : CNN-IBN
Other reports have said Essar wants to buy out the whole business in a deal valuing Hutchison Essar at $17-$18 billion, while the Financial Times reported that Vodafone had made a solo bid with a similar valuation.
Meanwhile Hutchison Essar is poised to ride on swelling demand growth over the next half-decade.
Essar, Hutchison Telecom and Vodafone all declined to comment on Thursday, although Vodafone has confirmed it is considering making an offer, and both Hutchison Telecom and its parent, billionaire Li Ka-shing's Hutchison Whampoa, have confirmed receipt of approaches.
www.ibnlive.com /news/hutch-essar-to-bid-farewell-to-india/top/29770-7.html   (493 words)

 Essar seen in talks with BPL Mobile- Indiatimes Infotech   (Site not responding. Last check: 2007-10-30)
Essar group sources said there “had been discussions’’ in the past but no deal was imminent.
According to industry sources, however, the Essar group is in talks with BPL Mobile to provide financial help in return for a larger stake in the company at a future date, once the legal problems between BPL’s promoters are sorted out.
The Essar group is said to have provided a loan of about Rs 400 crore as a bridge loan ahead of accounts closing on March 31, ‘05.
infotech.indiatimes.com /cms.dll/html/uncomp/articleshow/1058514.cms?headline=Essar~seen~in~talks~with~BPL~Mobile   (351 words)

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