Essar Global Fund Ltd (EGFL), the holding company of Essar Group, today announced it has appointed Arun Kumar Jain as Operating Partner of its Projects business and a member on the board of the company.
Jain’s mandate is to drive the strategic roadmap of Essar Projects, monitoring and reviewing performance and mitigating the operational and financial risks associated with the business.
Prior to Essar, Jain was associated with Bharat Heavy Electricals Ltd (BHEL) and has experience of over 17 years. In the past, he has also worked with Bechtel and Fluor (India) as the Managing Director of India business.
“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,” Prashant Ruia, Director, Essar Capital, the investment manager for EGFL said.
Essar Projects has over the past five decades delivered projects worth over $10 billion across multiple sectors including refineries, tankages & terminals, petrochemicals & fertilisers, offshore & subsea pipelines, minerals & metals, power, ports & jetties, airports, buildings & townships, water systems and sewage treatment plants.