India’s Essar Group has planned yet another round of mega investments in Saudi Arabia. This comes just a month after the Indian conglomerate began development of its $4.5 billion integrated green steel plant in the Kingdom. Saudi Arabia has become a major focus area for Essar with the group foreseeing its growth potential over the next decade.

The latest plan will see the group investing in a port-related projects in Ras Al-Khair. Along with this, Black Box, its technology solutions company, will pump in more investment to further expanding its presence in Saudi Arabia and the region as a whole.

The Green Steel Arabia (GSA) project, in partnership with Saudi Arabia’s Desert Technologies (DT) – a solar photovoltaic (PV) company- will serve the construction, oil and gas, automotive, packaging, and general engineering industries. The project will provide access to green and carbon-free energy storage solutions which in turn will boost the low CO2 emission steel industry.

The project, set to roll out in 2027, will help develop solutions for renewable energy generation and storage for Essar’s Flat Steel Complex. It will also put Saudi Arabia on the map for green steel production and green energy generation.

The latest investment plan also proposes berths at the port in Ras Al-Khair for captive use of its upcoming steel project, which is also set to be the first green steel project in the GCC.