Shashi Ruia, the co-founder of the multinational Essar Group, passed away at the age of 80 after a prolonged illness. He died in Mumbai on November 25, with his family confirming the news in a statement.
A Visionary Entrepreneur
Shashi Ruia, along with his brother Ravi, co-founded the Essar Group in 1969, starting with the construction of an outer breakwater at Chennai Port. Under his leadership, the conglomerate expanded into key sectors including steel, oil refining, telecom, energy, construction, and more. Essar’s diversified portfolio spans across infrastructure, metals, mining, energy, technology, and services, with the group's portfolio companies generating approximately $14 billion in annual revenues.
A Legacy of Community Impact and Philanthropy
Essar Group and the Ruia family paid tribute to Shashi Ruia’s enduring legacy. A statement released by the family described him as a "patriarch" whose work had a profound impact on both the corporate world and the communities he served. His leadership, humility, and philanthropic efforts touched millions of lives. His exceptional vision helped shape Essar into a global powerhouse, redefining India’s corporate landscape.
Funeral Details
Shashi Ruia had recently returned from the United States after receiving medical treatment. His mortal remains will be kept at Ruia House in Mumbai from 1 pm to 3 pm on November 26 for mourners to pay their respects. A funeral procession will depart at 4 pm towards the Hindu Worli Crematorium.
Ruia is survived by his wife Manju and their two sons, Prashant and Anshuman, who will continue to carry forward his legacy. His passing marks the end of an era for Essar Group and its vast influence on India’s industrial and economic growth.
With inputs from agencies
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