| Log in
Reuters

Essel Group acquires potash mines in Africa

14 August, 2015

Essel Group Middle East (EGME) through its affiliate Interu Mining and Trading has acquired Bada Potash Exploration Licence in Danakil Depression, Eritrea, for an undisclosed amount, according to a press release.

This licence area is 150 kilometres Southeast of the capital city of Asmara.

“We have broadened our mining portfolio with the acquisition of key assets in Eritrea. These mines are rich in potash and sylvite deposits,” commented Gagan Goel, MD, Essel, Africa.

“The Bada licence area offers several significant advantages; along with being a rich source of the mineral itself, its proximity to mass transit points is favourable as well,” he added.

Earlier this year, EGME acquired oil reserves in the sub-Saharan region also. 

Two month back, Essel Group signed an agreement with Canadian firm Simba Energy Inc to pick 60 per cent stake in its African oil and gas exploration projects for an undisclosed amount. 

Recently Essel Group signed an agreement with the Rajasthan government to set up 5 GW of solar power capacity. The solar parks will be set up in Bikaner and Jaisalmer with an investment of Rs 4,000 crore in which both Essel and Rajasthan government will have 50 per cent stake each.


Leave Your Comment
Essel Group acquires Spanish production company boo.lab

Essel Group acquires Spanish production company boo.lab

Keshav Sunkara 11 months ago
Essel Group ME, which is part of media tycoon Subash Chandra-led Essel Group,...
Essel Group acquires Spanish media production firm Serena's Dubai arm

Essel Group acquires Spanish media production firm Serena’s Dubai arm

Bruhadeeswaran R 1 year ago
Essel Group ME, part of media tycoon Subash Chandra-led Essel Group, has...
Essel to acquire 60% stake in Canadian firm Simba's African oil & gas exploration assets

Essel to acquire 60% stake in Canadian firm Simba’s African oil & gas exploration assets

Bhawna Gupta 3 years ago
Essel Group Middle East (Essel ME), a wholly-owned subsidiary of business...
No Comments

Essel Group acquires potash mines in Africa

Powered by WordPress.com VIP