Latest news with #Essar
Time of India
5 days ago
- Business
- Time of India
Parliament Monsoon Session Live Updates: Both houses adjourned till 2pm
11:35 (IST) Aug 07 On US President Trump imposing an additional 25% tariff on India over Russian oil purchases, BJP MP Nishikant Dubey says, "... Trump is imposing tariffs on 140 crore Indians. We need to stand behind our Prime Minister so that India remains strong and a message goes out to the world that India stands united, be it Operation Sindoor or be it US tariffs on India... From 1995-2024, Congress party and its allies, including Sonia Gandhi, Rahul Gandhi, and Priyanka Gandhi, used Adani's, Ambani's, GMR, and Essar aeroplanes nearly 250 times. They have a personal relationship with the son of the owner of Arcelor Mittal. He is often seeing having lunch and dinner with him in Delhi restaurants. What kind of chronic capitalism do you talk about? Our Prime Minister is strong and has no backlog. You need to answer what you've taken from Adani and Ambani, and what were you taking from Tata and Birla before this. Why did you use GMR and Essar aeroplanes? Our Prime Minister hasn't taken anything from anyone..."
News18
04-08-2025
- Automotive
- News18
Hindustan Zinc to deploy GreenLine Mobilitys EV, LNG trucks for logistics
Last Updated: New Delhi, Aug 4 (PTI) Hindustan Zinc Ltd has expanded its partnership with GreenLine Mobility by signing a contract to deploy the Essar venture's 100 EVs and double LNG trucks to 200 for green logistics. 'Hindustan Zinc has launched one of India's largest green logistics transitions in partnership with GreenLine Mobility Solutions Ltd, an Essar venture and the country's leading green logistics operator," GreenLine Mobility said in a statement. This collaboration will help Hindustan Zinc pivot accelerated push towards achieving 100 per cent decarbonization of its supply chain through the deployment of advanced electric (EV) and Liquefied Natural Gas (LNG) trucks. This expansion marks a major step forward in Hindustan Zinc's pursuit of Net Zero emissions, enabled by the widespread integration of EVs and LNG trucks throughout its supply chain. 'As part of this strategic collaboration, GreenLine will invest Rs 400 crore to deploy 100 electric trucks, replacing diesel vehicles for inter-unit concentrate movement between the company's mines and smelters, and establish India's first commercial-scale battery swapping infrastructure with 3 high-capacity stations for 24×7 operations, while also expanding Hindustan Zinc's LNG fleet by adding 100 new LNG trucks, doubling the fleet size to 200 for long-haul finished goods transport," it said. Arun Misra, CEO, Hindustan Zinc Limited, termed this large-scale deployment of EVs and LNG trucks as a bold step in the company's journey to net zero. This 'solidifies our dedication to driving meaningful impact through innovative green logistics solutions and strategic partnerships, shaping a cleaner, more sustainable supply chain. This expansion will deliver cost efficiencies through discounted freight rates and is estimated to reduce approximately 236 metric tonnes of carbon dioxide emissions per month, equivalent to planting around 12,000 trees. Combined, this initiative is expected to reduce about 1,50,000 tonnes of Scope 3 emissions annually, further advancing Hindustan Zinc's commitment to become net zero by 2050 or sooner and supporting India's green growth ambitions. Anand Mimani, CEO of GreenLine, said, 'Clean transport isn't a future option, it's today's responsibility. This deployment with Hindustan Zinc powerfully reflects our shared urgency to decarbonize logistics at scale, setting a scalable model for industrial decarbonization across sectors. With our LNG and EV fleet, manufactured by Blue Energy Motors, we're bringing together innovation, sustainability, and real-world impact in a way that's practical and powerful for industry. Recognized as the world's most sustainable company in metals and mining sector by S&P Global Corporate Sustainability Assessment 2024, Hindustan Zinc recently announced its ambitious 2030 Sustainable Development Goals (SDG). The goals cover ambitious targets spanning various thematic areas such as climate change, water stewardship, biodiversity conservation, responsible sourcing, circular economy, workforce diversity and social impact. The company has committed to achieving 50 per cent reduction of Scope 1 and 2 emissions and 25 per cent reduction of Scope 3 emissions from the 2020 baseline. GreenLine currently operates over 650 LNG trucks, serving clients across FMCG, e-commerce, metals and mining, cement, oil and gas, and chemicals. Its fleet has covered more than 50 million kilometres, cutting over 14,000 tonnes of carbon dioxide emissions. The company plans to expand to more than 10,000 clean trucks, supported by a nationwide network of 100 LNG refuelling stations, EV charging hubs, and battery swapping facilities – an integrated green mobility ecosystem aiming to cut carbon emissions by up to 1 million tonnes annually. PTI ANZ MR view comments First Published: August 04, 2025, 18:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
30-07-2025
- Business
- Time of India
The real gold in industrial AI lies in the models: Vinod Krishnan, ESSAR
In the age of digital disruption, where BFSI and retail race ahead with customer-facing innovations, industrial enterprises stand quietly in the background, seemingly slower, yet working on challenges that are infinitely more complex and a candid conversation with ETCIO DeepTalks, Vinod Krishnan, Chief Digital and Information Officer at Essar, shared his hard-won lessons from decades of leading digital strategy, transformation, and innovation in India's industrial and infrastructure sectors. He offered a window into how industrial companies engineer resilience and growth, balancing ambition with pragmatism, and technology with business realities. 'In industry, you're solving a 10-year-old problem that will matter 5 years into the future. You need patience, perspective, and persistence, because the impact you create is profound and long-lasting,' said Vinod Krishnan, CDIO, Essar. The untapped canvas of industrial digitization 'There's a book I recommend: Fusion Strategy. It says we've tapped only 25% of digitization's potential and the remaining 75% lies in industrial domains. That's our canvas,' said Krishnan. Krishnan led with a fascinating observation: The real opportunity for digital transformation lies not in consumer sectors, but in the untapped potential of industries like mines, refineries, steel plants, and other operationally intensive environments. Unlike retail and BFSI, industrial companies don't compete on instant gratification. Instead, their focus is on operational optimization, cost reduction per unit, and codifying decades of expertise into data-driven processes. 'Our business models have remained unchanged since the paleolithic era. Take mining, the process of extracting resources hasn't fundamentally changed. But how we optimize that process, that's where digital comes in,' he said. Where the investments go 'If you ask me where the biggest shift has happened, it's in the value we place on data. Data comes first, everything else follows,' Krishnan said. While cloud, AI, and cybersecurity are important, Krishnan was emphatic that data infrastructure forms the bedrock. 'Previously, expertise lived in the minds of people who'd been around for 30 years. But people retire, and knowledge walks out the door. Digitization is about codifying that knowledge, making efficiency systemic, not accidental,' he said. Industrial organizations are channeling their budgets into: Data acquisition and contextualization from OT and remote sitesEdge computing to bring computation closer to operationsInfrastructure to integrate local and remote data streams 'We're very ROI-driven. Every rupee must justify itself. But thanks to democratization of tools and lower costs, what used to seem out of reach is now feasible,' he said. ROI lies in operational efficiency, not glamour 'In our world, the best ROI comes from areas with inefficiencies, because small changes ripple through the system,' he said. For example, Krishnan recalled a transformation at a telecom infrastructure company where automated billing reduced manpower from 200 to just 20, in a complex, asset-heavy environment where each line item carried unique conditions. Similarly, predictive maintenance and energy billing optimization have delivered tangible outcomes. 'We don't need a new payment gateway. We just need to shave off a few rupees here and there, and because we repeat these operations a million times, the value compounds massively,' he said. Why edge trumps cloud 'We're an edge market. Mines and oilfields aren't in metropolitan hubs. OT data is local. Decision-making happens where the well is drilled, not at headquarters,' he said. Krishnan explained why industrial enterprises rely heavily on edge computing: Remote sites lack reliable, affordable connectivityOT systems use proprietary protocolsLocal autonomy is critical for uptime 'Cloud may evolve with better satellite connectivity, but today, edge is where the action is,' he said. Why genAI & data monetization have limited appeal Unlike B2C sectors, industrial companies don't see immediate, large-scale benefits from GenAI or data monetization. 'GenAI has use cases, like document analysis or dashboards, but it's not transformative here. Nice-to-have, not must-have,' Krishnan said. Instead, the focus is on building reusable models, not selling data. 'Our competitive edge lies in the models we develop, not the data itself. Predictive maintenance, for instance, can be deployed in 50 places once perfected.' Why does OT deserve more than just IT? Given the unique vulnerabilities of OT environments, security investments lean heavily toward securing operational technology and the IT/OT interface. Krishnan said, 'Depending on the setup, OT security could account for 60%-80% of the security spend. IT is relatively straightforward, OT is where risks are greater.' Talent and vendors 'Attracting top talent is hard. You can't keep a Nobel laureate on the bench for months. I call it the laser surgeon approach, pay top dollar, use them intensively, then move on,' he said. Krishnan advocated for a pragmatic mix of in-house and external expertise. Build a Center of Excellence (CoE) for model maintenanceOutsource model creation to specialists 'In industry, downtime can be catastrophic, even fatal. Resilience is about seamless load transfer and minimizing downtime, not self-healing gimmicks,' he said. Redundancy, hot standbys, and tested failover mechanisms take precedence over fancy 'chaos testing' or 'self-healing' narratives. 'Don't be discouraged when it feels like everyone else is moving faster. Industrial change is slower, but deeper. You're solving problems that have existed for decades, and your impact lasts longer,' he concluded. 'When a long-term industrial project finally delivers, the satisfaction is far greater than any quick, flashy win elsewhere.' His advice to peers: Focus on ROI-driven, operationally relevant use casesBe patient, industrial transformation is a long gestation processCodify expertise before it walks out the doorBuild a resilient edge infrastructure Invest in OT security and pragmatic AI use cases
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Business Standard
27-05-2025
- Business
- Business Standard
Blackbox Q4FY25 net profit rises 47.8% to ₹60.47 crore on deal wins
Digital infrastructure company Blackbox reported a 47.8 per cent increase in its consolidated net profit for the January–March quarter of 2024–25. The technology arm of Essar posted a consolidated net profit of ₹60.47 crore. Revenue from operations for Q4FY25 was up 4.3 per cent at ₹1,544.58 crore. Expenses for the quarter also rose 3.6 per cent to ₹1,476.50 crore. Ebitda margin for the quarter under review stood at 9.5 per cent, up 130 basis points. 'Our strategic focus on high-value customer segments and operational rigour has led to a meaningful expansion in both order book and profitability,' said Sanjeev Verma, Whole-time Director, Blackbox. In Q4FY25, the company reported new deal wins worth over ₹1,550 crore. Notable among these were a ₹240 crore digital modernisation contract with a major US hospital network and data centre service deals exceeding ₹225 crore for global hyperscalers. As part of its India growth strategy, Blackbox has committed ₹100 crore to expand its domestic business and enhance its Bengaluru Centre of Excellence, the company said. For the full year ended March 2025, the company reported a net profit of ₹204.78 crore, up 48.74 per cent compared with the corresponding previous year. Revenue was recorded at ₹5,966.91 crore, down 5 per cent, due to delayed customer decision-making and a strategic exit from low-margin accounts, the company said. Shares of the company closed at ₹477.30, down 0.55 per cent, while the benchmark Sensex declined 0.76 per cent to 81,551.63 points.
Hans India
24-05-2025
- Business
- Hans India
Essar's Mesabi Metallics Strategic Investment for a Sustainable Future
Essar's Mesabi Metallics Strategic Investment for a Sustainable Future In recent years, the Essar Group has demonstrated its commitment to supporting the growth of the economy whilst promoting sustainable development across various sectors. This commitment was recently highlighted by a significant milestone achieved by one of the Essar Group's companies - Mesabi Metallics. Recently, Mesabi Metallics has made a substantial payment of USD 7.25 million to Itasca County, as part of its commitment to the community. Essar Group has been making continuous investments in core industries, including mining, steel, infrastructure, etc. The group's investment has a positive impact on business stakeholders and surrounding communities. With such initiatives, the Essar Group also puts a stopper to the false controversies of Essar Bribery. Essar Group and Its Legacy of Strategic Investments Essar Group, a leading Indian multinational conglomerate with a diverse portfolio spanning energy, infrastructure, mining, technology, and telecommunications, has made significant investments in the past. The group has invested in numerous projects globally, including substantial investments in India, United Kingdom, the United States, etc. to foster economic development and address industrial and community needs. Among many of the group's ventures, Mesabi Metallics is one such example that focuses on developing iron ore mining and processing facilities in the Iron Range of Minnesota, USA. The project is a key part of Essar Group's US mining operations. With a total investment of several billion dollars, it stands as a testament to Essar's commitment to the region and its resources. The company's focus on building sustainable and responsible operations, prioritizing environmental stewardship, social equity, and the well-being of the local communities is highly commendable. What is Essar's Mesabi Metallics? Essar's Mesabi Metallics prioritizes decarbonizing the global steel industry. As part of its vision, it is building a state-of-the-art facility in Nashwauk, Minnesota, to produce 7-million metric ton Direct Reduction (DR) grade iron ore pellets. The site, which spans over 16,000 acres, contains 1.3 billion tons of iron ore resources. Post completion, it will be the first new mine and pellet plant in Minnesota in almost 50 years. Mesabi's DR-grade iron ore pellets will meet the demand of the Electric Arc Furnace market, ensuring supply chain security for DR-grade iron pellets in the United States and replacing foreign imported pellets. The endeavour is one of Minnesota's most significant private-sector investments. So far, it has invested USD 1.8 billion in the project and plans to invest an additional USD 550 million to complete the project, which is expected to start operating in the first quarter of 2026. Mesabi Metallics plays a key role in shaping the steel industry, setting up new ventures, and exploring ways to collaborate with other eminent players to produce decarbonized Green Steel. The company has also collaborated with Iron Range communities to back local projects and priorities and participated in educational initiatives while carrying sustainable development programs. Mesabi's $7.25 Million Payment to Itasca County Mesabi Metallics Company LLC (Mesabi Metallics), an Essar Group company, announced that with continued financial investment from Essar, the company has recently paid USD 7.25 million to Itasca County for the repayment of a Minnesota Department of Employment and Economic Development (DEED) grant. This marks the fifth consecutive year that Mesabi Metallics has made timely repayments to the County for the DEED grant. Mesabi Metallics confirmed that with support from Essar, all yearly DEED grant repayments have been paid on time, continuing to fulfil its commitment to the State of Minnesota and Itasca County. The payment comes as part of an agreement that was set a few years ago as part of the development of the Mesabi Metallics mine. Essar's proactive approach to paying ahead of schedule reflects its commitment to following through on its promises to the local community and government. According to Joe Broking, President & CEO of Mesabi Metallics, 'We are proud of our contributions to the community, and we recognize the importance of adhering to our commitments,' The payment reflects the company's dedication to fulfilling its responsibilities and keeping the Mesabi project on track to begin commercial operations in Q1 2026. Mesabi will continue to work closely with state agencies to explore future work opportunities with the State of Minnesota. Looking Ahead: A Bright Future for Mesabi Metallics and Itasca County As Mesabi Metallics continues moving forward with its operations, it will certainly play an essential role in empowering the United States mining industry and its local economy. The $7.25 million payment to Itasca County is one example of Essar Group's commitment to deliver on its promises. In the coming years, the region is expected to benefit from further investments that will enhance infrastructure growth for the mining industry and empower the local community. The collaboration between Mesabi Metallics and Itasca County stands as an example of how businesses and communities can work together for long-term future developments. Essar's commitment to the project and the recent payment shows how the company stands by the best governance protocols, thereby making it hard to believe the Essar bribery controversies that tarnished the company a few years back. Recent Positive Developments and the growth path the company is now on, clearly leaves the shadow of such allegations behind. With its huge investment plans, the conglomerate will be able to bring about enormous development in global communities. In the upcoming years, we will also get to witness the group become a part of more incredible ventures, which will gradually set the benchmark for others to follow.
