Essar began as a construction company in 1969 and has diversified into manufacturing, services and retail over the years since then. Over the last decade, it has grown through strategic global acquisitions and partnerships, or through greenfield and brownfield development projects, capturing new markets and discovering new raw material sources.
Today, Essar continues to expand its global footprint, focusing on markets in Asia, Africa, Europe, the Americas and Australia. Essar invests significantly in the latest technology to drive forward and backward integration in its businesses, and on leveraging synergies between these businesses. It also focuses on in-house research and innovation to be a low-cost manufacturer with high-quality products and innovative customer offerings.
Essar Global Fund (EGFL) is a diversified global investment fund with a diversified portfolio of investments across the sectors of energy, metals & mining, infrastructure and services. The combined assets of Essar Power and Essar Oil constitute Essar Energy plc, a company that was listed on the London Stock Exchange in 2010 following a highly successful initial public offer (IPO), the second-largest overseas IPO ever floated by a company of Indian origin.
Alongside its ambitious business pursuits, Essar has been committed to its social responsibility. The company runs community outreach initiatives at all of its plant locations, with a focus on education, healthcare, environmental and agricultural development, and self-employment. Essar is committed to sustainable business practices. Its Health, Safety and Environment (HSE) management system is on par with global standards.
The company is also actively undertaking climate change initiatives to reduce its carbon footprint. This includes several Clean Development Mechanism (CDM) projects that earn the company 'Certified Emission Reduction' credits. A growing number of its businesses – with new businesses joining the list every year – are certified to international environment standards, including ISO 9001 /14001, and health and safety standards, such as OHSAS 18001.
Essar is widely regarded as a responsible and conscientious global employer. It has experience in managing businesses in different geographies with a culturally diverse workforce. This is why its people practices are sensitive to cross-cultural nuances. The company's people strategy is focused on promoting a learning culture that continually enhances the professional skills of its employees.