In an interaction with Rahul Kamat, Vaibhav Maloo, Managing Director, Enso Group talks about the company’ strategic interests in foreign markets
Tell us about Enso Group’s interests in the gas field in Eastern Siberia and the potash mine in Canada.
Enso Group holds interests in a gas field located in Eastern Siberia, Russia, near Lake Baikal, boasting proven reserves of 1.3 trillion cubic feet (tcf). We are actively conducting further exploration in this region and exploring monetisation opportunities nearby.
Additionally, we have a stake in a potash mine situated in Saskatchewan, Canada. Canada holds the second largest reserves of this mineral globally. With proven reserves exceeding 155 million metric tons (MT), the mine has a production capacity of up to 5 MT annually, and we are actively working to maximise its potential.
Over the past two years, we have witnessed strong trading revenue growth, and we are poised for better growth in 2024. With a strategic focus on optimising trading activities and leveraging market opportunities, we are confident in our ability to achieve our revenue targets for the year.
That said, we operate directly in five countries across various sectors including energy, mining, real estate, trading, lubricants, and IT, with prior involvement in healthcare. We stand out for our unwavering commitment to ethical conduct and fostering a diverse and inclusive work culture. Our calling spade a spade approach and country-agnostic operations give us a competitive edge, particularly in addressing challenges like corruption and facilitating a faster work culture in select foreign markets.
How does Enso Group plan to achieve its growth objectives? And, are there any upcoming projects or ventures that Enso Group is particularly excited about?
We aim to accumulate the financial resources necessary for organic growth and expansion into new segments, prioritising sustainable and long-term success. We’re currently developing a mobile application and website for global use, slated for launch in the first half of this year. This project represents an exciting opportunity to enhance our reach and engagement with stakeholders. Additionally, we’re leveraging our presence in energy exploration and mining to expand into more futuristic and tech-driven segments, exploring new opportunities in the UAE, India, Russia, and Canada.
What trends or developments do you see shaping the future of Enso Group’s industries?
The integration of technology is crucial for accelerating work processes and driving industry and global growth. We recognise the importance of making technological advancements accessible and understandable to all stakeholders, especially in areas like management information systems and cloud computing. This underscores the increasing demand for computer-literate individuals, particularly those proficient in English.
How is the group imbibing environmental consciousness across the business?
We are an environmentally aware business, aiming to operate without impacting the environment negatively and supporting the community and economy dependent on a healthy planet.
At Enso Group, every company is committed to providing a safe, healthy, clean and ergonomic working environment for all its stakeholders and society.
We strive to prevent the wasteful use of natural resources and improve the environment, particularly concerning natural resources. We endeavour to offset the effect of climate change in all spheres of our activities. Our processes aim to construct an environment where our businesses can thrive, keeping in mind economic, social and environmental sustainability.
We solicit complete support from our suppliers to meet our goals around environmental issues. All our partners must have a written environmental policy appropriate to the size and nature of their operations. They must address CO2 emissions, waste, energy, and wood & paper management. We also have an effective internal environmental management programme with an adequately informed staff who, ideally, can provide data around crucial environmental indicators. All our suppliers must abide by all legislation and regulations related to protecting the environment and the handling of hazardous materials.
Suppliers must keep dangerous and/or hazardous materials to a minimum and make Material Safety Data Sheets available for all necessary hazardous materials. We require all our suppliers to work actively to improve the environment in the communities they operate and pursue initiatives to bring about such improvement.
How does Enso Group foster innovation and growth within its team or organisation?
We prioritise employee engagement by providing opportunities for advancement and setting clear targets and incentives. However, our primary focus remains on respecting the needs of our employees and creating an environment where they can thrive and contribute to our collective success.
How does Enso Group adapt to changes in the market or industry landscape?
We remain agile by staying informed and embracing new technologies and research. Smart hiring practices ensure we have the talent necessary to navigate evolving market dynamics, with our employees being long-term stakeholders integral to our adaptability and success.
Are there any emerging technologies or opportunities that excite Enso Group within its industry?
We are particularly excited about the potential of artificial intelligence (AI), which holds promise across various industries. While still in its trial stages, AI has already revolutionised information management, and we’re eager to explore its further integration into our operations.
