The investment arm of Essar Global Fund Ltd, Essar Capital Ltd, has appointed Anil Kumar Chaudhary as the Chief Executive Officer of its metals and mining vertical. The business is at an advanced stage of developing and executing projects in India and the US. It is foraying into iron and steel making, both in India and in the Middle East. The fund is a global investor in assets across energy, infrastructure, metals and mining, services and technology. Prior to this Chaudhary has been the Chairman and Managing Director of Steel Authority of India Limited (SAIL) and has been the Chairman of International Coal Ventures Ltd. (ICVL) and MJunction Services. The company’s business in North America, Mesabi Metallics, is building a 7-million tons per annum mining and pelletization project in Nashwauk,Minnesota, to produce important raw materials to the North yank steel market. Mesabi Metallics has one.7 billion metric tonnes of mineable resources and is about to become the lowest-cost producer of DRI / HBI within the North American nation. Essar Capital’s promoter Prashant Ruia, during a recent LinkedIn post, aforesaid that the corporate would invest in assets toward an inexperienced economy and in businesses that may rework sector landscapes from carbon to a clean energy system.
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