Essar Oil UK bought the Stanlow refinery at Ellesmere Port from Shell in 2011. Email. Vessel handling, product discharge, processing, blending and more, Connectivity Solutions One of Essars strengths has been its ability to invest in businesses that have the potential for growth and its strategy to diversify as a hedge against cyclicality. . For Essar's Stanlow Terminals Limited, this is a breakthrough deal to provide dedicated tank capacity for the storage and blending of fuel products from Fulcrum NorthPoint. Essar is already making rapid progress against its broader decarbonisation targets. All of its portfolio companies share the Funds ESG centric value system, reflecting the philosophy of placing people before profit. Since acquiring Stanlow in 2011, Essar has invested $1 billion in margin improvement and other efficiency initiatives to ensure the refinery remains competitive in a rapidly changing market. Simultaneously, global steel prices started tumbling and reached a historic low of USD 180 per tonne. And in February, Essar announced it has joined forces with Fulcrum BioEnergy and Essar's subsidiary company Stanlow Terminals to create a new 600m facility which will convert non-recyclable. In addition, in an honorary capacity, Adithya is currently the Senior Vice President at the India Chapter of Institute of Internal Auditors Inc, USA and President elect for 2021 22. Managing Director, Finance, Infra, Tech & Retail, at Essar Capital. The gas will be permanently sequestered into depleted gas fields under the sea in Liverpool Bay, as part of the HyNet cluster infrastructure in the North West of England. The company is a major supplier in the North West and beyond with customers including most of the major retail brands operated by international oil companies and supermarkets, Manchester Airport, leading commercial airlines and the regions trains and buses. Choose Additional Cities in Arizona by Selecting the First Letter of the City. He has worked as an Economic Advisor, and the principal economic policy maker at the state level for seven years. We are committed and primed to lead the national charge in the development of a more sustainable energy infrastructure by creating the UKs first eco-friendly energy hub. Prior to joining Essar Capital, Vikash was an Executive Director and CEO of SSKI Corporate Finance Ltd, a boutique investment bank specialising in infrastructure financing and advisory. In addition, SAF produced at the site offers a 90% reduction in particulates, which may benefit local air quality in and around airports. Contact information for Essar companies in India and worldwide . He is responsible for all HR matters for the Metals & Mining and Services & Technology portfolios. Mumbai - 400034 He has a strong professional record in streamlining litigation, M&A, turnkey contract management, IPR, project financing, international arbitration and compliance support. CH65 4BD, United Kingdom, UKs Largest Moreover, the quality of scrap was also not always up to the mark. Essar continues to be the largest Indian exporter of flat steel. The FRNs were due for refinancing in 1999, the year that marked the end of the five-year term. This brought down the capital cost per tonne of steel, which helped reduce overall cost of production. Since 2010, some of the pioneering investments were proactively monetised for an enterprise value of US$ 40 bn through large transactions with foreign and Indian entities. By using SAF derived from residual domestic household and commercial waste, greenhouse gas emissions are reduced significantly on a lifecycle basis when compared to fuels produced from conventional crude oil. For SBI, the proposal posed a real challenge since it involved a first-of-its-kind transaction for the bank as well! Earlier on he has worked with TCS in the beginning of his career. Around this time, Bombay High had just started producing oil, which needed to be transported onshore. Essar Ports Limited Essar House, 11, K.K. An oil giant has announced plans to invest 1.9bn in Stanlow oil refinery in Cheshire, including establishing a plant to supply industrial hydrogen. As a result, while most shipping companies in India were making losses in the 80s, Essar was reaping profits. Intelius does not provide consumer reports and is not a consumer reporting agency as defined by the FCRA. Fulcrum's partner, Essar, will assist with the blending and supply the sustainable aviation fuel to airlines, with Stanlow Terminals Limited providing product storage and logistics solutions for the project under a long-term agreement. The energy industry is changing. However, Essars chosen policy was to get into areas of import substitution, high technology and national importance. Priya Chakravarty is the Senior Director, HR, at Essar Capital. Inside the Plant At a Glance. Until then, only foreign construction companies would undertake a project of this magnitude and complexity. The company began its operations with the construction of an outer breakwater in Chennai port, an order worth Rs 2.5 crore. She has more than 23 years of experience in Human Resources, having worked across industries like Manufacturing, Pharma, IT and Retail. He started his career with Escorts Limited where he worked and grew through various roles of operations and business development. Plant owner Essar is also investing in a . The Research & Development team developed high-end products for specialized applications, like interstitial free steel for auto and auto components, high-end API grade steel for the petroleum industry, steel conforming to the ABS standard for ship building industry and so on. A slew of projects in each of these businesses were initiated in the 1990s when the Indian economy was booming. So Essar set up steel manufacturing facilities at Hazira with the objective of gaining value addition. An offering that prides itself in the highest levels of safety to protect our people, your people and the communities we operate in. Essar is investing over 1 billion into a range of energy efficiency, fuel-switching, and carbon capture initiatives, designed to decarbonise its production processes significantly by 2030 and put Essar at the forefront of the UKs shift to low carbon energy. Essars energy transition strategy is based on five principles: running the core Stanlow refining processes as efficiently and safely as possible; decarbonising Stanlows operations; building a hydrogen future through the launch of Vertex Hydrogen (Vertex) and as a key part of the HyNet consortium; developing green fuels (including Sustainable Aviation Fuels); and establishing the UKs largest biofuels storage facility through Stanlow Terminals Limited. Around the mid-1980s, the Government also opened up the contract drilling business to Indian private companies. Essar Oil UK, which operates Stanlow Refinery, and Fulcrum BioEnergy, based in California, US, have teamed up with Stanlow Terminals to develop the . Sunil Jain is the Operating Partner for Energy transitions. Our latest List Price, effective from 2nd March, for Ex Rack sales is as follows. Suite 220 Essar JV to build UK's largest hydrogen hub 2 min read . Follow on capacity growth is planned to reach 80% of the UK Governments new target of 5GW of low carbon hydrogen for power, transport, industry and homes by 2030. He plays a key role in managing strategic functions of EGFL. REUTERS/Phil Noble LONDON, Nov 30 (Reuters) - Essar Oil UK said on Wednesday it planned. EOUK had agreed to an accelerated schedule to make this payment. Essar began the process of refinancing one year in advance, in May 1998. Dhanpat Nahata is the General Partner, Strategy and Risk, at Essar Capital. Viral has held key leadership positions at Vedanta Resources Plc, CIMB Securities/ Royal Bank of Scotland, Warburg Pincus, Citigroup, and Credit Suisse. 4900 Hopyard Road He has over 25 years of work experience in the field of M&A and Transactions. The only alternative to scrap was sponge iron, but there were no sponge iron manufacturers on the west coast of India despite a large number of users. Worse was to follow. Vice Chairman & Operating Partner, Metals & Mining, Operating Parter, Infrastructure, MD & CEO, Essar Ports, Sr. This new development promises to lead the way to a cleaner and more sustainable future in the North West and change the way aviation fuel is made to help decarbonise the UK. The experience in contract drilling prompted the Group to venture into the upstream in the Oil sectori.e. Additionally, he is also a member of the India-Indonesia CEOs Forum. Prior to being the Managing Director at Essar Capital, Rakesh has been at leadership positions in Essar Ports. Essar is to make a 1.98bn investment at its Stanlow refinery as it continues its low carbon energy transformation / Picture: Essar Group Prashant Ruia, director of Essar Capital , said: "The launch of EET is a major milestone in Essar's long-standing commitment to put the UK at the forefront of low carbon energy. Having completed his law degree from the University of Leeds, United Kingdom, Andrew has over 25 years of rich experience. Essar Oil (UK) Limited is registered in England and Wales with company registration number 07071400 and registered office at 5th Floor, the Administration Building, Stanlow Complex, Ellesmere Port, Cheshire, CH65 4HB. Essar Oil UK is a leading UK-focused downstream energy company whose main asset is the Stanlow Manufacturing Complex, one of the most advanced refineries in Europe and situated close to the major cities of Liverpool and Manchester. Jeff Ovens, Managing Director, UK & Europe Fulcrum, added: We are excited to be announcing this project, located within one of the UK's most important energy producing assets, which will help reduce the burden on landfills and industry's reliance on fossil fuels. The promoters could foresee the demand, a vision that paid rich dividends. Essar Global Fund invests, builds and nurtures a portfolio of world-class companies through Essar Capital, its investment manager. The majority of the investment - across a range of hydrogen production technologies, decarbonisation, biofuels and infrastructure projects - will be at its Stanlow site ($2.4bn), with the balance in India. The Late 1980s: Foray into core sector manufacturing. The sponge iron plant became a hugely successful venture. Our DNA is to invest with spirit of an entrepreneur, build assets with the passion of an owner and manage businesses with the discipline of a professional. The returns from the transition will not only outperform benchmark returns but also contribute to a sustainable society within the framework of Environmental, Social and Governance (ESG) and transform sectors for a post carbon economy. Locating this facility in the North West of England at a strategic location will create new, skilled jobs whilst simultaneously contributing to the UK's Net Zero 2050 objectives. In 2005, when the government came out with the unified licensing scheme, the JV started merging all the telecom circles. Essar will assist with the blending and supply the new SAF to airlines, with Stanlow Terminals Limited providing product storage and logistics solutions for the project under a long-term agreement. Essar Capital is governed by its board of directors and its responsibilities as investment manager of EGFL include: Essar House, 11 KK Marg, Mahalaxmi, Mumbai 400 034, India. It will also utilise direct pipeline access to pump and transport the SAF to UK airports through the Manchester Jet Line and the UK Oil Pipeline network (UKOP). Sited on a 770 hectare industrialised area of Ellesmere Port, Cheshire, Stanlow benefits from its close proximity to major north-west metropolises, a robust configuration and reliable, well maintained assets. Essar is investing to make our refinery at Stanlow, the UKs first low carbon refinery. Essar Energy, which owns the Stanlow. Rakesh Kankanala is the Managing Director, Managing Director, M&A, Infrastructure, of Essar Capital. Essar Oil (UK) Limited 2021. Mr Rajiv Gujjalu serves as Director Essar Global Fund Limited (EGFL). exploration & productionand downstream, into refining. Earlier this year, it announced its participation in production of blue hydrogen under the HyNet project. With over 30 years of experience in operational leadership, investment management and business growth across diverse sectors, Srinivasan provides critical evaluation on current and future capital investments. The Manchester Ship Canal that connects Liverpool to Manchester also provides further hinterland water connection to North West UK. As part of the backward integration, a 4 MTPA pellet plant was set up in Visakhapatnam; forward integration was achieved with a 2 MTPA steel plant. Firdose has extensive experience in emerging markets, having been involved in advising governments, parastatals and companies in Africa, India, Europe and the Middle East. Badrinath is a seasoned legal professional with over 29 years of core experience in implementing legal policies for corporates in the manufacturing, oil & gas and services sectors. He has held several senior management positions within the financial services industry over the past twenty-two years with experience in stockbroking, investment and treasury management, corporate and fund administration and insurance mainly in Mauritius and Canada. Mr Sogani, who was the Group CFO of Jindal Steel & Power Limited, has over 25 years of experience specialising in areas of business and financial management with special focus on strategy, M&A, business/corporate development, business restructuring, corporate finance, capital markets, investor relationship, governance and operations. Many steel companies at that time went down under. Such emission reductions are approximately 70% and have the future potential to be fully carbon neutral. In 1999, the government announced a new telecom policy that was more conducive to growth. Copyright 2023 Essar. All these measures have made Essar Steel, the largest integrated steel producer on Indias west coast and one of the largest producers of flat steel in the country. Similarly, Essar Bulk Terminal was set up to create bulk terminal facilities at Hazira and other ports. Sale included 20 MTPA refinery, retail, port and related infrastructure. Prior to joining Essar Capital, he lead several reputed public sector and private steel companies, including Steel Authority of India Limited and Rashtriya Ispat Nigam Limited as their Chairman and Managing Director. This prompted Essar to start manufacturing sponge iron. Our ambition is to become a leading low carbon refinery. By 2006, all the circles were under one umbrellaHutchison Essar Limited. It had a fleet of over 100 vehicles of varying capacities. As a core part of the HyNet cluster, Essar's Stanlow site already plays a prominent role in the UK's energy transition planning framework, following the selection of HyNet by the UK government in . In September, EOUK announced it had signed a Heads of Terms offtake agreement with Vertex, a joint venture with Progressive Energy, for the supply of 280MW+ of hydrogen. By this time, all of Essars businesses had grown significantly and the time had come for managing each business as an independent company. Work also started on expanding capacity from 2.4 MTPA to 4.6 MTPA through brownfield expansion, which requires far less capital than similar greenfield projects The cost of this project was USD 2.64 billion. Six business areas in the core sectorConstruction, Shipping, Steel, Power, Oil & Gas, and Telecommunicationswere identified as growth drivers for the Group. The company approached State Bank of India (SBI), a leading public sector bank in India, for a loan. Also, the financial sanctions imposed on India subsequent to the Pokhran nuclear test in May 1998 ensured that Essar was banned from raising FCCBs. Together, these initiatives will help diversify the refinery in a greener direction, and help achieve the UK's decarbonisation goals. All companies under the TTP have been given until January 2022 to meet their commitments. Try LightSource for your strategic sourcing. He joined Burmah Shell in 1957, also known as Bharat Petroleum Corporation Ltd after it was nationalised, and retired from it as director marketing. Essar Group on Monday announced a fresh investment of $3.6 billion in setting up an Essar Energy Transition (EET) to spearhead green energy transition projects in the UK and India. Sited on a 770 hectare industrialised area of Ellesmere Port, Cheshire, Stanlow benefits from its close proximity to major north-west metropolises, a robust configuration and reliable, well maintained assets. The aim was to build a diverse fleet that could help hedge any downturns in the business. The UK's second biggest oil refinery is locked in talks with tax officials over a deferred tax bill amid reports that it could be on the brink of collapse.