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. Marg, Mahalaxmi, Mumbai - 400034 Maharashtra, India. Essar Energy locked in negotiations with HMRC over VAT payment delayed because of pandemic. All Rights Reserved. Located near Ellesmere Port in north west England, the Stanlow refinery is the second largest in the UK. Hutchison Essars subscriber base, too, has risen from 1,50,000 to 28 million. Essar Logistics took care of the movement of cargo, generated by Essar Steel and Essar Oil, by road. The project, which will fully integrate Essar, Stanlow Terminals Limited and Fulcrum assets and technology, is part of a number of innovative solutions at Stanlow designed to cut carbon emissions and contribute to the UK Government's Ten Point Plan for a Green Industrial Revolution. India in those days had secondary steel makers who used imported scrap to produce steel. As a result of that work over the past few months, EOUK has $1.1bn [800m] in liquidity secured. Dockers at Stanlow refinery in Cheshire have refused to unload a shipment of Russian oil. Prior to joining Essar, he was the Vice President and General Counsel at Hindustan Construction Company Ltd. Utilising the world class facilities available at Essar, including the impressive jet fuel storage facility at Stanlow Terminals Limited and direct pipeline to UK airports, Fulcrum, along with its current and future investors, will be able to build and operate its facility more efficiently and sets the 'gold standard' for SAF production by fully integrating its new, low carbon fuel technology directly within an existing refinery.Fulcrum's fuel will enable airlines to reduce their impact on the environment and help put the aviation industry on its path to a more sustainable long-term operation. In his avatar as editor of a business daily, he also made his mark as a widely respected and incisive columnist on macroeconomics, fiscal and monetary policy. Gifts and Donations to: ASU Foundation Attn:Financial Services P.O. Sanjay is a seasoned professional with more than 22 years of stellar experience in building and leading large financial businesses across wholesale and retail segments. Low carbon hydrogen will be produced at the Stanlow Manufacturing Complex located in Ellesmere Port, Cheshire. Deepak Maheshwari, CEO of Essar Oil UK said: This new carbon capture plant is the single biggest initiative to decarbonise our processes and a core element to our hugely ambitious decarbonisation strategy. Media contact. In 2005, when the vessel rates peaked, Essar sold its five Suezmax tankers at the price at which they were bought in 1994. Sponge iron generation capacity was also increased to 5.5 MTPA. Additionally, he is also a member of the India-Indonesia CEOs Forum. Mahalaxmi, Thangapandian Srinivasalu currently serves as the Advisor for investments in the Energy sector at Essar Capital. Tempe, AZ White Pages. Essar then acquired licenses for Eastern UP, Rajasthan, Haryana and Punjab. Our ambition is to become a leading low carbon refinery. Vertex Hydrogen is a joint venture between Essar Oil UK and Progressive Energy. Most Recent Shipment: 04/07/2022 (Database Updated . info@fulcrum-bioenergy.com . Physical location: 777 Novus, Suite 310AA, Tempe, AZ 85287-4308 Building: Novus Tower, Tempe Campus Mailing address: P.O. Retrieved 30 March 2012. Essar says it is in positive discussions with HMRC for a short extension to its time-to-pay (TTP) arrangement agreed earlier this year, having repaid 547m of the 770m originally deferred. 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. He is responsible for investigation, analysis and assessment of risk, and accordingly design and implement strategies and processes which mitigate these threats. Left with no option, Essar was forced to default on the FRN loan, despite having made concrete plans for refinancing. Vessel handling, product discharge, processing, blending and more, Connectivity Solutions The chemicals manufacturing plants uses technologically-advanced process units to produce propylene and turn ethylene, benzene, hydrocarbons and other feedstocks into a wide range of polymer and other products. Plant owner Essar is also investing in a . You may not use any information obtained from Intelius for any purpose covered by the FCRA. All of its portfolio companies share the Funds ESG centric value system, reflecting the philosophy of placing people before profit. Further, the company has now returned to Ebitda positive [earnings before interest, taxes, depreciation, and amortisation] and is therefore in a much stronger position to weather the continued challenge presented by the pandemic, it said. Around the mid-1980s, the Government also opened up the contract drilling business to Indian private companies. It vigorously worked towards restructuring its balance sheet, drawing up a three-pronged strategy to address . Essar Energy. He is a seasoned professional with over 27 years of experience, including 23 years in international investment banking & private equity. He is on the Boards of World Steel Association, and the Metals & Mining and Energy industry Committee of the World Economic Forum. The Stanlow refinery supplies about a sixth of the UKs road fuel. He joined Essar as CEO Retail in the year 2010. Plans for Fulcrum NorthPoint are expected to be complete at the end of this year and subject to planning consent, will be operational in late 2025. This will be the first Fulcrum plant outside the United States. 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. In addition to outside contracts, it executed all of Essars internal projects. The Tranmere Oil Terminal, with its two dedicated jetties, can handle Very Large Crude Carrier (VLCC) tankers loaded with up to 170,000 tonnes of crude. Until then, only foreign construction companies would undertake a project of this magnitude and complexity. Essar has invested in a portfolio of world-class companies across sectors and geographies. Aviation is one of the most hard to decarbonise transport sectors and sustainable aviation fuel is a key enabler for the reduction of carbon emissions. 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. He has played an integral role in many landmark private equity transactions and has also managed many regional and global private equity funds. The sponge iron plant became a hugely successful venture. Essar Energy, which owns the Stanlow oil refinery in Ellesmere Port, Cheshire, is negotiating with HM Revenue and Customs (HMRC) over a 223m VAT payment, delayed because of the pandemic. Essar subsidiary Stanlow Terminals is to provide storage and logistics services for a new 600 million (687.8 million) sustainable aviation fuel (SAF) plant to be built near Ellesmere Port, UK. The company's spirited involvement in community service . An oil giant has announced plans to invest 1.9bn in Stanlow oil refinery in Cheshire, including establishing a plant to supply industrial hydrogen. This arrangement was made for two principal reasons: One, Indian financial institutions were not in a position to lend for a longer term; two, raising foreign currency debt beyond five years was not permitted at that time. Many steel companies at that time went down under. Investing in an end-to-end logistics infrastructure. 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. So Essar set up steel manufacturing facilities at Hazira with the objective of gaining value addition. Essar braced itself for the oncoming challenge. Essar Energy enters into agreement to buy Royal Dutch Shell's Stanlow refinery for US$350 million. This landmark development supports our long term sustainability ambition to deliver the energy solutions of the future and position Stanlow as the UK's leading sustainable aviation fuel hub. Marg, We unlock trapped value for energy partners feeling shackled by a lack of innovation and the status quo by maximising our flexible, end-to-end, safe and agile approach to logistics solutions management. Mr Sogani helps manage Essar Capital investments in the portfolio companies of metals & mining sector. Essar also reentered the contract drilling services business after a hiatus of three years. It is also a major regional employer with over 900 staff, an additional 800 on site contractors and a further 5,000 people employed indirectly through the extended value chain. In order to lend stability to the Group, Essar planned to enter manufacturing. He holds a BA (Hons) in Economics and a Masters in Investment and Finance. This debt was refinanced later when the government set up the Power Finance Corporation. Patrick Walters, Chief Executive Officer, Stanlow Terminals Limited, said: This landmark announcement of our partnership with Fulcrum after our first year of operations is an excellent example of why Stanlow Terminals Limited was established. 4900 Hopyard Road Prior to Essar, he was the CEO & Executive Director of Hero Future Energies Pvt Ltd. The plant has a high availability factor of 99 percent. The green energy projects will include an investment of $1.2 billion in green ammonia manufacturing in India. Madhus expertise lies in the area of mergers & acquisition, fund raising, investor relations, and operations management, and leads future capital investment recommendations to Essar Capitals Board of Directors. The project was funded by Indian financial institutions and the ECB. A fleet of 13 onshore rigs and a semi-submersible rig were deployed with clients in India and abroad. Since early August, the company has increased its daily vehicle shifts from 52 to more than 70, and is aiming to increase deliveries to more than 80 by the end of October, it said. . exploration & productionand downstream, into refining. Essar Oil (UK) Limited 2021. EOUK had agreed to an accelerated schedule to make this payment. Since 2010, some of the pioneering investments were proactively monetised for an enterprise value of US$ 40 bn through large transactions with foreign and Indian entities. With over 15 years of experience in diverse fields including media & publishing, corporate communications. Kingsbury Diesel 121.92 ppl, PU10 114.84 ppl. His strength lies in leading new business development opportunities and conducting preliminary due diligence and analysis of emergent companies and partners. Address. Having started his career with HPCL, he worked with National Oil Nigeria, Reliance Industries Ltd., TotalFinaELF and Gulf Oil India. Raj Varma is an Advisor, at Essar Capital. Rahul is a seasoned professional with more than 28 years of experience specialising in areas of recasting HR and business processes, right sizing and cost optimisation. Thus Essar was able to build one of the most valuable telecom companies in the world. Essar Global Fund invests, builds and nurtures a portfolio of world-class companies through Essar Capital, its investment manager. Essar began the process of refinancing one year in advance, in May 1998. The project has been selected by BEIS as a Phase-2 winner in the CCUS cluster sequencing process earlier this summer, and as such, is currently progressing through the due diligence stage. Inside the Plant At a Glance. Crude oil is supplied to the refinery via a 15 mile pipeline from the companys Tranmere facility further downstream in the Mersey Estuary. India Salaya Vizag Stanlow. Pleasanton, CA 94588. Essar is investing to make our refinery at Stanlow, the UKs first low carbon refinery. 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. Prashant holds key positions on several prestigious regulatory and professional boards. Essar Stanlow's top supplier is Refined Technologies with 17 shipments. Together, these initiatives will help diversify the refinery in a greener direction, and help achieve the UK's decarbonisation goals. Subsequent to the HyGrade takeover, the pellet making capacity was enhanced to 8 MTPA. When commercial production began in 1996, this had fallen to USD 380 per tonne. By 2030, Vertex expects to deliver nearly 4GW of low carbon hydrogen, equivalent to c.40% of the UK Governments national target. He has led natural resources sector businesses for major investment banks globally. All Rights Reserved. Box 874308 Main phone: 480-965-7682 Fax: 480-965-9199 Undergraduate & Graduate Advising. 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 Oil UK is committed to helping drive the UK's decarbonisation strategy. Today, the Hazira power plant has two power purchase agreementsone with the Gujarat State Electricity Board and the second with Essar Steel. Stanlow also plays an important part in Britains petrochemical industry, providing feedstocks such as toluene, propylene and ethylbenzene. It owned 11 land rigs, one offshore rig and a drill ship. General enquiry Contact us Commercial enquiry Retail enquiry Purchasing and Supplier Management (PSM) enquiry Careers enquiry General enquiry For general enquiries please write to: Stanlow Refinery Ellesmere Port Cheshire CH65 4HB Or phone Switchboard 0151 350 4000 Later, it went on to buy a specialized pipe-laying barge to undertake this kind of activity. Jatinder Mehra is the Vice Chairman & Operating Partner of Essar Capital. Essar is a leading UK-focused downstream energy company whose main asset is the Stanlow Manufacturing Complex, one of the most advanced refineries in Europe situated close to the major cities of Liverpool and Manchester. Until the mid-1980s, Essar was focused on the service sectors of construction and shipping, which were prone to cyclical volatility. Mumbai - 400034 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 . Legal Disclaimer and Terms and Conditions of Usage, This website uses cookies or similar technologies, to enhance your browsing experience and provide personalized recommendations. Essar owned 33% stake in the consolidated entity. He has held key leadership positions at YES Bank Ltd. and ICICI Bank Ltd. 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. Essar had financed the project through a combination of rupee debt and Floating Rate Notes (FRN)both on a five-year tenure. 925.730.0150. All these projects helped transform Essar Constructions into a leading EPC contractor. 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. and more than 70 percent of its shipping revenues came from international operations. The refinery plays a strategic role in the UK economy, supplying 16% of all road transport fuels. In addition, Fulcrum NorthPoint was awarded a grant by the UK Government Department for Transport. 4900 Hopyard Road Suite 220 Pleasanton, CA 94588. It vigorously worked towards restructuring its balance sheet, drawing up a three-pronged strategy to address the issue: Increase capacity, move to value-added segments and bring down finance costs. The challenge was to select a sector that was an import substitute, with a product that had long-term demand and served a national purpose. 2023 PeopleConnect, Inc. d/b/a Addresses.com. In early 2005, Essar restructured the balance sheet and work resumed with renewed vigor on completing the refinery project. Essar Ports Limited Essar House, 11, K.K. Essar continues to be the largest Indian exporter of flat steel. Contact information for Essar companies in India and worldwide . This has improved the quality of the ore and reduced the transportation cost. 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. Essar Steel was now a producer of flat steel and joined the select group of Indian companies that produced this commodity. as panic buying hits forecourts across the country. With has a nameplate capacity of 296,000 barrels of oil a day, it is responsible for about one sixth of the UK's petrol supply. Essar Constructions grew its activities considerably over the years. Fulcrum is actively developing Fulcrum NorthPoint at the Essar Stanlow Manufacturing Complex in Cheshire, in the North West of England. They primarily export from United States with 17 shipments . : +91-22- 66601100 Fax: +91-22-66601809 Write to us : Mumbai Essar Equinox Business Park (Peninsula Techno Park), Off Bandra Kurla Complex, He has also led digitalisation initiative in GRC space and was instrumental in running technology-based solution around enterprise risk, compliance risk, license management and document repository systems. Vertex's low carbon hydrogen production plant will be a core part of the HyNet low carbon cluster. In the second quarter, a devastating cyclone hit the western coast of India damaging several structures in the refinery site. The Manchester Ship Canal that connects Liverpool to Manchester also provides further hinterland water connection to North West UK. Sr. All companies under the TTP have been given until January 2022 to meet their commitments. 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. It that happened, the refinery would be likely to be taken on by the official receiver, to keep the refinery running. It invested in relevant logistics assets. Phone. As a result, while most shipping companies in India were making losses in the 80s, Essar was reaping profits. The takeover of SCGL has enabled Essar to widen its product base and cater to a larger segment of industries. The Late 1980s: Foray into core sector manufacturing. Northampton Diesel 121.98 ppl, PU10 114.89 ppl. 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. Essar Oil (UK) Limited 2021. This brought down the capital cost per tonne of steel, which helped reduce overall cost of production. Ellesmere Port, Cheshire, His academic research paper on Sustainability and Renewable Consumption Obligation has been presented at forums of international repute. Essar negotiated with the FRN holders for a one-time settlement and refinanced its entire rupee debt at a lower cost. The 1980s: Supporting Indias nascent exploration sector. Once complete in 2027, the plant will eliminate an estimated 0.81 million tons of CO2 per year the equivalent of taking 400,000 cars off the road, eliminating nearly 40% of all Stanlow emissions. 20 August 2011. 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. Shashi Ruia began his career in the family business in 1965 under the guidance of his father, the late Nand Kishore Ruia. In 1999, the government announced a new telecom policy that was more conducive to growth. By continuing to use our website, you agree to our Privacy Policy Accept, Dedicated marine import capability to tankage. The UKs first low carbon hydrogen facility will be built at Stanlow and will sit at the heart of the HyNet low carbon cluster, to produce a total of 1GW per year of hydrogen, across two units, from 2026. For cheapest and greenest transportation of your products, Beyond Storage Rewants global exposure, fresh perspectives and arc of activities has contributed to Essars strategy and operations in the mining, steel and retail sectors both in India and abroad. . Prior to being the Managing Director at Essar Capital, Rakesh has been at leadership positions in Essar Ports. He is the former Chairman and Managing Director of state-run natural gas giant GAIL India Ltd and had started his career in Oil and Natural Gas Corporation. He has a strong professional record in streamlining litigation, M&A, turnkey contract management, IPR, project financing, international arbitration and compliance support. Operating Parter, Infrastructure & MD & CEO, Essar Ports. Acting as director of several client companies, Rajiv is a Fellow member of the Mauritius Institute of Directors since 2012. When the power sector was opened up for private participation, Essar was one of the first companies to enter the fray. Stanlow, 30th November 2022: Essar Oil UK Limited (Essar or the Company) today announces its plan to build a 360 million major new carbon capture plant at its Stanlow refinery in line with its ambition to become a leading low carbon refinery by 2030. 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. Plant owner. Ensuring your bulk liquid products reach their destinations with ease. He started his career with Escorts Limited where he worked and grew through various roles of operations and business development. Email. Our latest List Price, effective from 2nd March, for Ex Rack sales is as follows. Try LightSource for your strategic sourcing. But the Sunday Times reported that the government was on alert in case Stanlow collapsed, and that it could go into insolvency if it could not raise more funds. 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. In 2012, he was awarded an excellence award for his contribution to renewable energy and sustainability by the Energy and Environment Foundation. Stanlow Manufacturing Complex, Stanlow. Hazira was also the land fall point for gas from the Bassein gas field in Bombay High. In order to improve the efficiency, Essar Steel bought Stemcors 51 percent stake in HyGrade Pellets Limited, the pellet making venture of Essar. . At Hazira, a deep draft berth and shipping channel was constructed to enhance the cargo handling capacity by bringing larger vessels alongside the berth.
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