Essar consents to pay AM/NS $2.4 billion (about Rs. 19,000 crore) for infrastructure assets.

Essar will complete its planned asset monetisation programme and finish the debt repayment plan of $25 billion (2,00,000 crore) with this agreement, with the Indian banking industry being almost completely

refunded in full. Essar's total revenues will be around US$ 15 billion (or 1.2 lakh core), and its AUM (Asset Under Management), which consists of a variety of assets spread throughout India and abroad, will be around US$ 8 billion (or 64,000 crore). These energy sector assets include a 10 MTPA refinery in the United Kingdom (UK), 15 TCF reserves of unconventional hydrocarbons (including some producing fields) in India and Vietnam, and a 1,200 MW power plant in India; infra sector assets include a storage terminal in the UK with a 3 million m3 capacity and a 20 MTPA port in India; metals and mining sector assets include a significant iron ore mine and pellet project in the United States; and technology and services sector.