Essar Future Energy Limited inked a Memorandum of Understanding (MoU) with the Gujarat Government at the Vibrant Gujarat Regional Conference held in Rajkot.

As part of the MoU, Essar Future Energy plans to set up a significant bio-fuel facility in the Devbhumi Dwarka district, starting with a feedstock processing capability of 1 million tonnes per annum (MTPA). The initiative includes a planned investment of Rs.5,100 crore and is anticipated to create approximately 350 direct job opportunities, with operations set to begin by 2029.

The initiative will be established as an SEZ unit and aim to decarbonize hard-to-abate sectors, providing clean fuel options for aviation, maritime, and road transportation.

The MoU was executed in the presence of Hon’ble Cabinet Minister Shri Rushikeshbhai Patel, Hon’ble Minister of State Shri Kaushikbhai Vekaria, along with other high-ranking officials from the Energy & Petrochemicals Department, Government of Gujarat.

Regarding the progress, Mr. Vibhav Agarwal, CEO of Essar Future Energy Limited, stated, “In line with the State’s commitment to establishing a green energy ecosystem for energy self-sufficiency, aligned with the vision of Viksit Gujarat – Viksit Bharat @ 2047, Gujarat remains at the forefront of India’s industrial growth and energy transition.”

Essar takes pride in leading this change, collaborating with the Government of Gujarat to create low-carbon energy solutions that are ready for the future.

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Essar, boasting an entrepreneurial history of 55 years, focuses on investing in and developing assets to generate value in essential sectors like Energy, Infrastructure, Metals & Mining, and Technology & Retail. Operating in eight nations, Essar achieves revenues of US$15 billion and employs more than 10,000 individuals.

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In the last five years, Essar has deliberately adjusted its portfolio by selling off certain top-tier assets. Essar is now ready to shift its current assets to a more sustainable model and invest in enterprises that are facilitating the change of industry landscapes from carbon-based to a clean energy framework, on both national and global scales. The Group is working on sustainable assets and industrial ecosystems, emphasizing hydrogen, green mobility, and green steel.

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Essar Foundation, the corporate social responsibility branch of Essar, boasts a strong 50-year history of service throughout India, concentrating on sectors like health, education, livelihood, women’s empowerment, sports, environment, and infrastructure.