Ravi and Shashi Ruia

* Ravi Ruia is the Vice Chairman of Essar Group. Coming from meager beginnings ,he is a Mechanical Engineer by profession and passed out of Anna University in Chennai, India . He has played an important role in steering the Essar Group to its pre-eminent position.
* The Ruia family’s origins are in Rajasthan. Sometime in the 19th century, it moved to Mumbai and set up its own business. In 1956, Shri Nandkishore Ruia, father to Shri Shashi and Ravi Ruia, moved to Chennai, capital of the south Indian state of Tamil Nadu, to begin independent business activities. He mentored his two sons in the intricacies of business. When Shri Nandkishore Ruia passed away in 1969, the brothers laid the foundation of the Group.Ravi Ruia
* The Essar Group began its operations with the construction of an outer breakwater in Chennai port. It quickly moved to capitalise on every emerging business opportunity, becoming India’s first private company to buy a tanker in 1976. The Group also invested in a diverse shipping fleet and oil rigs, when the Government of India opened up the shipping and drilling businesses to private players in the 1980s.
* Then, in the 1990s, Essar began its steelmaking business by setting up India’s first sponge iron plant in Hazira, a coastal town in the western Indian state of Gujarat. The Group went on to build a pellet plant in Visakhapatnam and eventually a fully integrated steel plant in Hazira.
* Through the 1990s, with the gradual liberalisation of the Indian economy, Essar seized every opportunity that came its way. It diversified its shipping fleet, started oil & gas exploration and production, laid the foundation of its oil refinery at Vadinar, Gujarat, and set up a power plant near the steel complex in Hazira. The Construction business helped the Group build most of its business assets. Essar also entered the GSM telephony business, establishing India’s first mobile phone service in Delhi (branded Essar Cellphone) with Swiss PTT as the joint venture partner. Ravi Ruia
* The 21st century for the Essar Group has been all about consolidating and growing the businesses, with M&As, new revenue streams and strategic geographical expansion.

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* The Ruias have been in business since the 1800s. Essar Chairman Shashi Ruia recently remarked about the entrepreneurial spirit that runs in the family: 'I am not just an MBA, but also an MBB (Marwari by birth).'

Highlights

* The Essar Group began its operations with the construction of an outer breakwater in Chennai port. It quickly moved to capitalise on every emerging business opportunity, becoming India’s first private company to buy a tanker in 1976. The Group also invested in a diverse shipping fleet and oil rigs, when the Government of India opened up the shipping and drilling businesses to private players in the 1980s.

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