Setting up green ammonia plant in India: Essar group's Prashant Ruia

"The project will be funded through both debt and equity and we will approach banks in India and abroad for debt"

Dev Chatterjee
Prashant Ruia

Prashant Ruia, director of Essar group

After exiting the Indian steel and oil refinery space, the Essar group is back in the news for its $3.6-billion investment in the United Kingdom and India in the green energy space. In an interview, Prashant Ruia, scion of the Essar group, tells Dev Chatterjee that the group will be a major player in the green energy space with India and United Kingdom acting as manufacturing hubs. Edited excerpts:  
Q. A large part of Essar group’s $3.6 billion investment is in the UK. Do you plan to invest more in India?
We are setting up a green ammonia plant in India with an initial investment of $1.2 billion. We are in the process of selecting the site for the project and we will make an announcement about the site very soon. The products will be shipped from India to the UK and Europe and other geographies. As the project develops, we will look at increasing investments.

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First Published: Feb 27 2023 | 8:47 PM IST

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