Essar group co-founder Shashi Ruia passes away at 81
Taking to X, Essar said “It is with profound grief that we inform of the passing of Shri Shashikant Ruia, Patriarch of the Ruia and Essar Family. He was 81.
Essar group co-founder Shashi Ruia
CHENNAI: Essar Group co-founder Shashi Ruia has passed away. He was 81.
Ruia was on several important national bodies and the managing committee of the Federation of Indian Chambers of Commerce and Industry (FICCI).
Ruia was also a member of the PM’s Indo-US CEO’s Forum and India – Japan Business Council.
Shashi Ruia along with his brother Ravi Ruia founded Essar group in 1969.
Essar Global Fund Limited (EGFL) is a global investor, owning multiple assets diversified across the core sectors of energy, metals & mining, infrastructure, technology and services.
The fund’s portfolio companies generate aggregate revenues of US $14 billion.
The brothers (Shashi and Ravi) in 1969 bagged a Rs 2.5 crore order from the Madras Port Trust for the construction of an outer breakwater in the port.
Taking to X, Essar said “It is with profound grief that we inform of the passing of Shri Shashikant Ruia, Patriarch of the Ruia and Essar Family. He was 81.
With an unwavering commitment to community upliftment and philanthropy, he touched millions of lives leaving an enduring impact. His humility, warmth, and ability to connect with everyone he met, made him a truly exceptional leader.
An iconic industrialist, Shri Shashikant Ruia, Chairman, Essar Group, played a significant role in redefining India's corporate landscape. He laid the foundation of the Essar Group and made it a global conglomerate.
Shri. Shashikant Ruia's extraordinary legacy will remain a guiding light for all of us, as we honour his vision and continue to uphold the values, he cherished and championed.
Ruia and Essar Family”. [sic]
PM Modi expressing his grief, posted on X, “Shri Shashikant Ruia Ji was a colossal figure in the world of industry. His visionary leadership and unwavering commitment to excellence transformed the businesses landscape of India. He also set high benchmarks for innovation and growth. He was always full of ideas, always discussing how we can make our country better.
Shashi Ji’s demise is deeply saddening. My deepest condolences to his family and loved ones in this hour of grief. Om Shanti.” [sic]