| | SEPTEMBER 20239IN FOCUSThe Ruia brothers' Essar Group has struck an agreement with Brazilian mining giant Vale International to provide iron ore agglomerates for Essar's Green Steel Arabia (GSA) project."Essar is looking at investing about $4.5 billion in setting up an integrated steel plant in Ras Al Khair, Saudi Arabia," said Naushad Ansari, country head of Essar Group, in Saudi Arabia. "Through this letter of intent with Vale and the previous LoI with Bahrain Steel, we will have secured 100% of the raw material supply of iron ore feed for the Saudi Steel Plant." The project is expected to begin production in 2027. Ansari stated that Essar is confident in its ability to replace flat steel imports into Saudi Arabia and the GCC area with its product portfolio. Vale will provide Essar with 4 million tonnes per year (mtpa) of DR-grade pellets and briquettes under the terms of the deal. Vale's regional director, Andre Figueiredo, stressed that the LoI shows the company's long-term commitment to meeting the expanding demand for raw materials in the steel sector. Figueiredo also stated that Vale's high-grade iron ore products will provide benefits such as price competitiveness and possible carbon footprint reduction, particularly in the Middle East. Figueiredo believes that this might spur the expansion of the low-CO2 steel sector. The GSA project intends to be the region's first green steel program, establishing worldwide CO2 emission reduction criteria. The project's projected capacity are as follows: 5.0 mtpa for direct reduction iron (DRI), 4.0 mtpa for hot strip, and 1.0 million tonnes for cold rolling, as well as galvanizing and tin plate lines. United Breweries Limited (UBL), a subsidiary of the Heineken Company, has named Vivek Gupta as managing director and chief executive, starting September 25, according to a stock exchange filing. Gupta has spent over two decades at P&G in leadership and commercial capacities, working across many categories ranging from everyday use to luxury. His most recent post at P&G was managing director of Australia and New Zealand. He comes to UBL from the B2B portal Udaan.Gupta, together with the UBL executive team, will be responsible for guiding the company's long-term success. He will oversee the premiumization of UBL's portfolio, including the enhancement of Kingfisher's iconic status."We are thrilled to have Vivek lead UBL at such a critical time. We recognize his resilience in building businesses and brands at a fast pace and in a complex environment. He brings solid global experience deeply rooted in India and has had substantial success in commercial and complex companies in traditional and digital environments," Jacco van der Linden, Regional President APAC of HEINEKEN, and Member of the UBL Board, said.Gupta's appointment follows Rishi Pardal's departure on February 16th, which was followed by a six-month notice period. Since then, there has been a leadership void at the organization. Gupta will serve as MD and CEO for five years, with the possibility of extension subject to shareholder approval, according to the company's filing.Gupta (47) is an engineer with a Master's degree in business management from IIM Ahmedabad.UBL is the largest brewer in India.The producer of Kingfisher beer announced standalone revenues of 16,692 crore in FY23. ESSAR INKS DEAL WITH BRAZIL'S VALE INTL FOR SAUDI ARABI GREEN STEEL PROJECTUNITED BREWERIES APPOINTS VIVEK GUPTA AS MANAGING DIRECTOR & CEO
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