Essar Steel: A Case Study on Corporate Insolvency Resolution Process

Abstract

Essar Steel's facility is one of the largest standing facilities of its kind, with 10 MTPA worth of liquid steel capability. It was situated in Hazira, Gujarat and providing jobs for thousands and contributing significantly to the Indian economy. It is a fully integrated facility (Hot Rolling, Cold Rolling & Plate Mill) and a modern technology plant. This comes with alterations inside various plant-level systems in the steel plant to facilitate this end-to-end integration. Also, it provides 4 MTPA downstream processing and distribution capacity, thus fulfilling integrated operating mold.  In addition, the company has beneficiation and pellet making facilities of 20 MTPA at Vizag and Paradeep. Essar Steel, as a pioner of steel industry and devoted own-self for supporting around 4,500 direct jobs and over 30,000 indirect jobs (Anand 2020).