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Last updated on April 24, 2014 at 5:21 EDT

Latest Essar Group Stories

2012-08-13 10:22:28

SAULT STE. MARIE, ON, Aug. 13, 2012 /PRNewswire/ - Essar Steel Algoma reported positive EBITDA of $54.6 million and a net loss of $7.2 million for the three month period ending June 30, 2012 on shipments of 644,844 tons.  EBITDA is a meaningful indicator of the Company's profitability. The results for the quarter reflect the impact of lower selling prices and higher costs compared to the three month period ending June 30, 2011.  Compared to the same period of the prior...

2012-08-09 10:22:26

HOUSTON, Aug. 9, 2012 /PRNewswire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced today that it has completed all milestones and has issued a full notice to proceed to Bechtel Oil, Gas and Chemicals, Inc. ("Bechtel") to construct the first two liquefaction trains of the Sabine Pass liquefaction project (the "Liquefaction Project"). The first liquefaction train is expected to start operations as early as 2015, with the second liquefaction train expected to...

2012-07-31 14:20:49

HOUSTON, July 31, 2012 /PRNewswire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced today that Sabine Pass Liquefaction, LLC ("Sabine Liquefaction") closed on a credit facility ("Credit Facility") that will be used to fund the costs of developing, constructing and placing into service the first two liquefaction trains of the Sabine Pass liquefaction project (the "Liquefaction Project"). The Credit Facility was upsized to an aggregate $3.6 billion and is held...

2012-07-23 02:21:28

LONDON, July 23, 2012 /PRNewswire/ -- The Nigerian government has signed a Memorandum of Understanding with US firm Vulcan Petroleum Resources and Nigeria's Petroleum Refining and Strategic Reserve to build six new oil refineries in a deal worth $4.5 billion. Two of the plants, each of which will have a capacity of 30,000 barrels per day, are set to be operational within a year. Nigeria - Africa's top oil producer - has been held back by its lack of refining capacity,...

2012-06-20 10:21:03

SAULT STE. MARIE, ON, June 20, 2012 /PRNewswire/ - Essar Steel Algoma Inc. (the "Company") announced today that it has entered into an amendment of its $350 million revolving credit agreement. The revolving credit agreement originally matured on June 20, 2012 and the amendment provides for an extension to the maturity date to the earlier of September 20, 2012 and ten days following an adverse ruling in the Indalex matter. In addition to the extension of the maturity date, among other...

2012-06-14 06:28:31

MUMBAI, India, LIMA, Peru and DALLAS, Texas, June 14, 2012 /PRNewswire/ -- New Center plans to employ 2,000 people Aegis, a global business services and experience management company and part of the USD 27 billion Essar Group, today announced the launch of its new center in Peru, in the city of Lima. The company, with headquarters in Mumbai, India, plans to hire over 800 employees in the first year and aims to reach a headcount of 2,000 in...

2012-06-11 10:22:34

SAULT STE. MARIE, ON, June 11, 2012 /PRNewswire/ - Essar Steel Algoma reported a net income of $38.1 million for the fiscal year ended March 31, 2012.  For the three month period ending March 31, 2012, the Company reported a net loss of $18.0 million.  The improvement over fiscal year 2011 is primarily attributable to increased volumes, higher selling prices, a favourable product mix, and lower costs. Shipments for the year were 2,598,285 tons, up 8.9% from the prior...

2012-05-31 06:21:36

ANTWERP, Belgium, May 31, 2012 /PRNewswire/ -- Highlights: - Port of Antwerp International has invested approx. Rs 175 crore in Essar Ports at a price of Rs 100 per equity share of the company through Global Depository Receipt - Partnership for technical assistance for port planning, process improvement, and quality and productivity improvement - Mutual assistance for the growth of port traffic between Port of...

2012-05-15 02:24:24

HOUSTON, May 15, 2012 /PRNewswire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE Amex: CQP) announced today that it has entered into a Unit Purchase Agreement ("Agreement") with investment funds managed by Blackstone Energy Partners L.P. and Blackstone Capital Partners VI L.P. (collectively with their affiliates "Blackstone"). Under the Agreement, Blackstone has agreed to purchase $1.5 billion newly issued CQP Class B units ("Class B Units") from Cheniere Partners...

2012-05-07 02:25:06

RIVERBANK, Calif., May( )7, 2012 /PRNewswire/ -- Green EnviroTech Holdings Corp. (GETH.PK) announced today that the tire and plastic to oil samples surpassed all of the required specifications and qualifications required by refineries enabling the oil produced to be sold commercially as crude oil. The last round of tests confirmed that with the installation of the additional equipment that the samples were processed through, the oil was well within the limits set by refineries in order for...