Essar has signed an MOU to develop a 1GW green hydrogen project in Gujarat, which would represent an estimated investment of Rs30,000 crore.
As part of a new industrial push, Essar Power also announced an additional investment of Rs16,000 crore for Phase-II expansion at its Salaya Power Plant and aims to transform its Salaya port into a logistics hub with an investment of Rs10,000 crore.
Prashant Ruia, Director at Essar Capital, said,“Gujarat has consistently been at the forefront of Essar’s strategic investments. We are delighted to further contribute to the state’s economic progress with an additional investment of Rs 55,000 crore in the energy & infrastructure sectors.”
Essar Group formed the Essar Energy Transition (EET) earlier this year to drive the creation of the UK’s leading energy transition hub in North West England.
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