Shashikant Ruia, noted Indian industrialist and Chairman of the metals-to construction Essar Group, died, the family announced. He was 81.
Ruia, who co-founded the Essar group with his younger brother Ravi Ruia, died in Mumbai on Monday night, family sources said.
“It is with profound grief that we inform of the passing of Shri Shashikant Ruia, Patriarch of the Ruia and Essar Family,” a statement issued by the family said.
“With an unwavering commitment to community upliftment and philanthropy, he touched millions of lives leaving an enduring impact,” the statement added.
An iconic industrialist, Shashikant Ruia, played a significant role in redefining India’s corporate landscape.
He laid the foundation of the Essar Group and made it a global conglomerate.
Among the Group’s global operations is a planned $4.5 billion green steel plant in Saudi Arabia.
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