Motilal Oswal
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Motilal Oswal
January 09, 2019 01:15 PM | Business

Essar says repaid 80% of group's debt, will focus on 4 core businesses

Essar Group on Thursday said over the past two years it has repaid more than Rs 1.37 lakh crore of debt, the majority of which are to Indian lenders.

"This is more than 80 percent of the group's debt," said Prashant Ruia, director, Essar Group.

On the revenue front, Ruia said, "Independent of Essar Steel, Essar Group's revenues now stand at $11.5 billion and will continue its focus on energy, infrastructure, metals and mining, and services sectors and will evaluate more opportunities in existing, as well as new sectors. "

With the deleveraging programme now drawing to a close, and with a much stronger and sustainable balance sheet, the company is looking forward to repositioning for growth, Ruia said.
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