Essar Group, Desert Technologies to develop $4.5 bn Green Steel Plant

India's Essar Group is moving forward with its ambitious plan to build a $4.5 billion integrated Green Steel facility in Saudi Arabia. In a press release, Essar announced a substantial and sustainable partnership with Desert Technologies (DT), a photovoltaic (PV) company based in Saudi Arabia. Together, they will pioneer innovative renewable energy generation and storage solutions exclusively for Essar's Flat Steel Complex in Saudi Arabia. In particular, this complex represents the first-ever green steel initiative within the Gulf Cooperation Council (GCC) region.

The establishment of renewable energy solutions for Essar's Green Steel Arabia (GSA) project in Saudi Arabia is poised to propel the nation to the forefront of green steel production and renewable energy generation, as articulated in the company's official statement.

The project is scheduled to start production activities by 2027. Upon completion, it will focus on critical steel-consuming sectors, including construction, oil and gas, automotive, packaging and general engineering.

Naushad Ansari, the Country Head of Essar Group in Saudi Arabia, highlighted that this partnership with Desert Technologies was set up to gain access to environmentally friendly and carbon-neutral energy storage solutions. Khaled Sharbatly, the Chief Executive Officer of DT Investments, underlined the importance of cost competitiveness and environmentally friendly solutions, and foresaw a significant boost for the burgeoning low-CO2 steel industry.