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Arun Kumar Jain Appointed As Operating Partner, Essar’s Projects Business

Essar Global Fund Ltd (EGFL) today announced the appointment of Mr. Arun Kumar Jain as Operating Partner of its Projects business, a key portfolio business of EGFL. He will be a member of the Board.

In the past five decades, Essar Projects has delivered mega projects worth over US $10 billion across various sectors, like Refineries, Tankages & Terminals, Petrochemicals & Fertilisers, Offshore & Subsea, Pipelines (Oil & Gas, Water, Iron Ore Slurry), Minerals & Metals, Power, Ports & Jetties, Airports, Buildings & Townships, Water Systems and Sewage Treatment Plants.

Until date, EGFL, through its investment manager, Essar Capital, has invested US $1 billion in Essar Projects.

Speaking on the appointment, Mr Prashant Ruia, Director-Essar Capital, said: “We are confident that Mr Jain’s experience and leadership track record, which is complemented by a team of highly skilled professionals, will help steer the performance of this vital EGFL portfolio company, thereby enhancing the overall value of our investment. I would like to extend him a warm welcome to the Essar Family.”

As the shareholders’ representative, Mr Jain will drive the strategic roadmap of the Projects business. He will monitor and review performance, as well as strive to mitigate the operational and financial risks associated with the business.

Prior to Essar, Mr Jain was associated with BHEL (Bharat Heavy Electrical Ltd). He has over 17 years’ experience in various leadership roles, having worked with companies, such as Bechtel and Fluor (India), where he was Managing Director for India business.

Source
businessworld
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