Essar Energy Holdings Limited a subsidiary of Essar Global Limited announced the appointment of Mr. Naresh Nayyar as the Chief Executive Officer (CEO) of Essar Energy Holdings Limited (EEHL) and Managing Director of Essar Oil Limited (EOL).

At Essar Energy Holdings, Nayyar will be responsible for all operations and projects of the Hydrocarbon business, both in India and internationally.

EEHL, drives Essar Global's energy business. It operates a fully integrated oil company of international size and scale in India. Its assets include developmental rights in proven exploration blocks, a 10.5 MTPA refinery in the west coast of India and over 1,250 oil retail stations across India. Plans are under way to increase its exploration acreage in various parts of the globe, expand its refinery capacity to 16 MTPA and open 2,500 retail outlets.

A chartered accountant and an alumnus of Indian Institute of Management, Ahmedabad, Naresh Nayyar has the reputation of combining excellent financial and strategic management skills. He has built long standing relationships with international majors in the industry.

Mr. Nayyar joins Essar Energy from ONGC Mittal Energy Ltd. a joint venture between ONGC and Mittal Investments, where he was responsible for steering the growth of the company through mergers and acquisitions and in a short span of one year, the company had successfully acquired several oil and gas assets in different parts of the globe.

He joined Indian Oil Corporation in 1970 and rose on to become its director in October 2002, after having handled several key assignments in finance, treasury, international trade and business strategy. As Director for planning and business development, Naresh Nayyar was responsible for Indian Oil's growth strategy and spear-headed its diversification into Petrochemicals, Gas, Upstream and International Marketing areas.

Prior to his appointment as director, he was responsible for planning and monitoring crude oil imports for public sector refineries, besides overseeing foreign exchange management for oil imports.

Nayyar was a nominee of Indian Oil Corporation on the Board of Haldia Petrochemicals. He was also chairman of the Lanka IOC Pvt. Ltd. and a member of the Board of Directors of reputed companies like ONGC, IBP and Petronet LNG.

About Essar Global
Essar Global Limited is a diversified group straddling the manufacturing and service sectors of Steel, Energy, Power, Communications, Shipping & Logistics, and Construction. Through its six holding companies, Essar Global has an estimated enterprise value of over USD 20 billion and employs 20,000 people worldwide.

With a firm foothold in India, Essar Global is focused on global expansion with projects and investments in Canada, USA, Africa, the Middle East, the Caribbean and South East Asia.

For further information, please contact:

Essar Group