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Prashant Ruia

Chairman, Essar Oil (UK) Limited

Prashant Ruia 48, is Member of the Board, Essar Capital Ltd. He is part of the second generation of the Ruia family that founded Essar and is the sole investor in Essar Global Fund Limited (EGFL). Essar was founded in 1969 by his father Shashi Ruia and uncle Ravi Ruia. EGFL is a diversified global private equity fund exclusively managed by its investment manager, Essar Capital Limited. The Fund is a global investor, controlling a number of world-class assets diversified across the core sectors of Energy, Metals & Mining, Infrastructure and Services. The aggregated revenues of the Fund’s portfolio companies is US$15 billion (projected for FY 2017-18). The companies operate more than 50 assets spread across the globe, while adhering to international standards of health, safety, environmental protection and corporate governance. EGFL has time and again demonstrated its ability to build world-class businesses that have elicited the interest of the best global players. Essar businesses in the telecom, BPO and oil & gas sectors have attracted more than $30 billion in Foreign Direct Investment by monetizing its portfolio to global majors, like Vodafone, Rosneft and Trafigura. Essar Energy recently announced the completion of a landmark transaction for the sale of Essar Oil to Rosneft and a consortium led by Trafigura & UCP at an enterprise valuation of US$ 12.9 billion. This transaction represents Russia’s largest ever foreign investment, as well as India’s largest Foreign Direct Investment. Prashant was chairman of the board of Essar Oil Ltd. Prashant has been an integral part of EGFL's operations and management since 1985 and has been a key driver of the Fund’s growth, diversification and value creation both within India and internationally. He is respected for his project execution skills, financial expertise and people management capabilities. Prashant through Essar Foundation has been driving various CSR initiatives across diverse geographies and communities impacting 4,00,000 people annually. Prashant holds key positions on several prestigious regulatory and professional boards. He is a Board Member of the World Steel Association, as well as a Board Member of the Metals & Mining and Energy Industry at the World Economic Forum. Additionally, he is member of the India-Indonesia CEO’s Forum and member of Young Presidents Organization. Prashant is married to Vasudha and has two children, daughter Ashna and son Arvan. Ashna is currently studying at Columbia University, USA. Arvan is pursuing his high school education in Mumbai.