Shashi Ruia’s mortal remains will be at Ruia House to offer prayers from 1 pm to 3 pm on Tuesday, November 26. The funeral procession will leave from Ruia House at 4 pm towards Hindu Worli Crematorium.
Shashi, a first-generation entrepreneur industrialist, started his career in 1965 under the guidance of his father Nand Kishore Ruia. He, along with his brother Ravi, laid the foundation of Essar and planned its business strategy, growth and diversification.
Shashi was also on several national bodies and industry associations. He was part of the managing committee of the Federation of Indian Chambers of Commerce and Industry (FICCI). He was also the chairman of the Indo-US Joint Business Council and the former president of the Indian National Shipowners Association. He was also a member of the Prime Minister’s Indo-US CEO’s Forum and India – Japan Business Council.
Essar Global Fund Ltd, which owns the businesses co-founded by the Ruia brothers, owns various assets diversified across the core sectors of infrastructure, energy, metals and mining, technology and services. The Fund’s portfolio companies generate aggregate revenues of $14 billion, as per Essar Group’s website.
Meanwhile, Essar’s portfolio businesses in the telecom, BPO and oil and gas sectors have gained over $40 billion monetisation proceeds from global majors such as Vodafone, Brookfield, Rosneft and Trafigura, the website stated.
First Published: Nov 26, 2024 7:53 AM IST
