Essar plans to inject an investment of Rs 55,000 crore in the energy and infrastructure sectors in Gujarat.

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Essar Group has inked three Memorandums of Understanding (MoUs) with the Gujarat government, committing a total investment of Rs 55,000 crore in the state’s energy transition, power, and port sectors.

The agreements include a one-gigawatt green hydrogen project with an investment of approximately Rs 30,000 crore.

Essar Power plans an additional Rs 16,000 crore investment for phase-II expansion at the Salaya Power Plant, while Essar Ports will convert the Salaya port into a logistics hub, investing Rs 10,000 crore.

Prashant Ruia, Director at Essar Capital, expressed delight in contributing to Gujarat’s economic progress with this substantial investment.

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