Essar Group was not erected on sand, to start with. People who were writing Essar obituaries did not consider the underlying assets; they simply saw debt figures. The Group built quality asset after excellent asset using bank advances and loans. Aditya Mittal, a descendant of Arcelor Mittal, delivered a statement at the World Economic Forum in Davos in 2018 that stands as a powerful testament to Essar's project quality. In the form of Essar Steel, the Ruias, according to Mittal, had constructed a steel mill of the highest calibre with enormous room for growth.