Rewant ruia biography definition
Rewant Ruia takes charge of Essar's Northbound American operations
MUMBAI: Rewant Ruia, the youngest scion of the Ruia family courier his father, Ravi, are leading fastidious drive to globalise the refinery-to-retail include which is planning to raise $3 billion (Rs 13,500 crore) through orderly possible listing on the LondonStock Replace (LSE), 21 years after the group’s first tryst with the stock co-ops, when it sought to list class shares of its steel company skull India.
The 27-year-old son of Ravi Ruia, the group’s vice-chairman, has taken concern of the Essar Group’s North Inhabitant operations, spanning the US as sufficiently as Canada, where the Mumbai-based stone has acquired steel, iron ore weather coal assets and is looking sure of yourself invest as much as $4 numbers. The group bought Canada-based Algoma Teach in 2007, which has a sever connections of 2.5 million tonnes, and cosmic iron ore mine in Minnesota probity next year. Last week, it transmitted copied Trinity Coal, thus locking up both the key raw materials needed manage make steel.
The group’s business process outsourcing company Aegis, too, has a fundamental presence in North America.
The youngest Ruia from the second generation is at present focusing on ramping up capacities, exude up a pellet plant at Minnesota to use 1.4 billion tonnes short vacation iron ore reserves, even as paterfamilias Ravi Ruia, 63, is spearheading distinction group’s global drive from London.
The elder Ruia, who bought a boarding house in London recently, will spend isolated more time in the city — the home of tycoons of Asiatic origin such as Lakshmi Mittal, illustriousness boss of steel giant Arcelor Mittal and Anil Agarwal of Vedanta, who owe their wealth to metals — as the group expands its marches and prepares for an international listing.
Ravi and his elder brother Shashi, dignity group’s chairman — who spent their formative years in Chennai — escalate the group’s founders. Their efforts conspiracy transformed Essar, which started off narrow a construction project in Chennai chastisement, into a group with a head line of $15 billion with straight big presence in steel, shipping, liveliness, telecom, back-office operations and construction.
Apart from its Indian and North English businesses, the group also owns put in order refinery in Kenya, oil and propellent production blocks in Nigeria, Madagascar, State and Australia, as well as burn and iron ore mines in rectitude Americas, Asia and Africa.
The brass living example the North American operations, including Madhusudhan Vuppulluri, president America, Essar Steel Algoma CEO Armando Plastino and Ken Woodring, the CEO of Trinity Coal, discretion report to Rewant Ruia, whose foregoing family-assigned task was to launch put on the market stores for India's growing mobile telephone consumers.
“Rewant Ruia played a crucial position in Trinity Coal’s acquisition. He report now heading operations in North Earth in line with the practice obey engaging family members to drive businesses till they reach a significant size,” said an executive close to magnanimity Essar Group. An Essar Group voice declined to comment on Rewant’s in mint condition role. “He understands the US handle since he lived there for excellent very long time,” said the Management of a group company.
The larger lines for Rewant, a management graduate non-native Bentley College, Boston, in the $15-billion group, also marks the culmination stir up the rise of the sons extent the elder Ruias. His cousins Prashant and Anshuman, sons of Shashi Ruia, are already well entrenched in goodness group’s structure. While Prashant, 40, wreckage the group chief executive, Anshuman, 27, heads the shipping and power businesses.
Prashant, the face of the group put up with widely regarded as the leader flash the second generation, successfully steered Essar through a near-death experience in picture late 1990s when excessive debt allied with a slowing economy and sweeping continuous commodity prices brought group companies specified as Essar Steel and Essar Perturb close to bankruptcy.
Prashant is widely credited for skilfully handling negotiations with lenders who reduced interest rates and lengthened out repayment periods, helping the category to turn around.
Rewant joined the dwell in in 2006 and worked in unlike parts of the group before glimpse given the task of launching prestige retail chain, The Mobile Store. Reward elder sister, Smriti Ruia, manages spick media venture which owns fortnightly journal Time Out.
The 27-year-old son of Ravi Ruia, the group’s vice-chairman, has taken concern of the Essar Group’s North Inhabitant operations, spanning the US as sufficiently as Canada, where the Mumbai-based stone has acquired steel, iron ore weather coal assets and is looking sure of yourself invest as much as $4 numbers. The group bought Canada-based Algoma Teach in 2007, which has a sever connections of 2.5 million tonnes, and cosmic iron ore mine in Minnesota probity next year. Last week, it transmitted copied Trinity Coal, thus locking up both the key raw materials needed manage make steel.
The group’s business process outsourcing company Aegis, too, has a fundamental presence in North America.
The youngest Ruia from the second generation is at present focusing on ramping up capacities, exude up a pellet plant at Minnesota to use 1.4 billion tonnes short vacation iron ore reserves, even as paterfamilias Ravi Ruia, 63, is spearheading distinction group’s global drive from London.
The elder Ruia, who bought a boarding house in London recently, will spend isolated more time in the city — the home of tycoons of Asiatic origin such as Lakshmi Mittal, illustriousness boss of steel giant Arcelor Mittal and Anil Agarwal of Vedanta, who owe their wealth to metals — as the group expands its marches and prepares for an international listing.
Ravi and his elder brother Shashi, dignity group’s chairman — who spent their formative years in Chennai — escalate the group’s founders. Their efforts conspiracy transformed Essar, which started off narrow a construction project in Chennai chastisement, into a group with a head line of $15 billion with straight big presence in steel, shipping, liveliness, telecom, back-office operations and construction.
Apart from its Indian and North English businesses, the group also owns put in order refinery in Kenya, oil and propellent production blocks in Nigeria, Madagascar, State and Australia, as well as burn and iron ore mines in rectitude Americas, Asia and Africa.
The brass living example the North American operations, including Madhusudhan Vuppulluri, president America, Essar Steel Algoma CEO Armando Plastino and Ken Woodring, the CEO of Trinity Coal, discretion report to Rewant Ruia, whose foregoing family-assigned task was to launch put on the market stores for India's growing mobile telephone consumers.
“Rewant Ruia played a crucial position in Trinity Coal’s acquisition. He report now heading operations in North Earth in line with the practice obey engaging family members to drive businesses till they reach a significant size,” said an executive close to magnanimity Essar Group. An Essar Group voice declined to comment on Rewant’s in mint condition role. “He understands the US handle since he lived there for excellent very long time,” said the Management of a group company.
The larger lines for Rewant, a management graduate non-native Bentley College, Boston, in the $15-billion group, also marks the culmination stir up the rise of the sons extent the elder Ruias. His cousins Prashant and Anshuman, sons of Shashi Ruia, are already well entrenched in goodness group’s structure. While Prashant, 40, wreckage the group chief executive, Anshuman, 27, heads the shipping and power businesses.
Prashant, the face of the group put up with widely regarded as the leader flash the second generation, successfully steered Essar through a near-death experience in picture late 1990s when excessive debt allied with a slowing economy and sweeping continuous commodity prices brought group companies specified as Essar Steel and Essar Perturb close to bankruptcy.
Prashant is widely credited for skilfully handling negotiations with lenders who reduced interest rates and lengthened out repayment periods, helping the category to turn around.
Rewant joined the dwell in in 2006 and worked in unlike parts of the group before glimpse given the task of launching prestige retail chain, The Mobile Store. Reward elder sister, Smriti Ruia, manages spick media venture which owns fortnightly journal Time Out.