The Essar Group, based in India, has recently entered into a memorandum of understanding (MoU) with Desert Technologies, a Saudi Arabian company specialising in solar photovoltaic and smart infrastructure. This collaboration aims to develop renewable energy solutions for the Green Steel Arabia (GSA) project in Ras Al Khair, Saudi Arabia, as well as potential future initiatives related to green steel production and clean energy.
Naushad Ansari, the Country Head for Essar Group in Saudi Arabia stated that Essar intends to make a significant investment of approximately $4.5 billion in the establishment of an integrated steel plant in Ras Al Khair, Saudi Arabia. Partnering with Desert Technologies will provide the company with access to sustainable and carbon-neutral energy solutions.
The GSA project, slated to commence production in 2027, is set to have an annual capacity of five million metric tons of direct reduced iron (DRI).