CW
India’s Essar Group has revealed its intentions to invest billions of dollars in low-carbon projects across Saudi Arabia, the UK, and India, marking a significant shift toward clean energy investments. The conglomerate, helmed by billionaire siblings Shashi and Ravi Ruia, anticipates obtaining final approvals by June to initiate investments totaling approximately $4 billion. This investment will be directed towards the construction of a low-carbon steel plant capable of producing 4 million tons annually in Ras Al-Khair, Saudi Arabia. Prashant Ruia, director of Essar Capital, the entity managing the conglomerate’s investment portfolio, disclosed this information.
