Subsequently he took responsibility as President Global Markets & Strategy since 2012 where he was responsible for sales, pricing strategy, marketing, and product & category management for the Steel business. 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. The funds from the sale of the tankers were used to buy two very large crude carriers (VLCC) of modern vintage and three Cape-size vessels. Essar then acquired licenses for Eastern UP, Rajasthan, Haryana and Punjab. In 2006, Hutchison, too, decided to exit India. Fulcrum is actively developing Fulcrum NorthPoint at the Essar Stanlow Manufacturing Complex in Cheshire, in the North West of England. . 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. Raj Varma is an Advisor, at Essar Capital. The project, which will see an investment of approximately 600m, will use Fulcrum's proven waste-to-fuel process, which is already being deployed at its pioneering facility outside of Reno, Nevada in the United States, where operations are due to begin later this year. If approved, construction work is scheduled to begin on site by the end of 2022, with hydrogen production set to commence by the mid-2020s. Essar had contracts with Chevron, Exxon-Mobil, Stat Oil, Shell, etc. Top-lines crashed, while interest rates were at their highest ever (Prime Lending Rates had touched 17 percent). His experience spans several sectors including mining and natural resources, telecommunications, business process outsourcing, infrastructure, healthcare and manufacturing. Stanlow contributes an estimated 60 million each year to the local economy and will house the UK's first low carbon hydrogen facility. Prior to this, he was a partner with KPMGs risk consulting practice focusing on enterprise and compliance risk management, partnering with leading multinational companies in areas of GRC in India, North America and Middle East. Viral has held key leadership positions at Vedanta Resources Plc, CIMB Securities/ Royal Bank of Scotland, Warburg Pincus, Citigroup, and Credit Suisse. Rajiv Agarwal is the Operating Partner, Infrastructure, at Essar Capital and Managing Director, Essar Ports.He has over 30 years of experience and has held leadership positions in sectors such as Ports, Shipping, Telecom, Retail and Business Processing Outsourcing. EGFL is now poised to transition its existing assets towards a greener economy and invest in businesses which will transform sector landscapes from carbon to a clean energy ecosystem. Pleasanton, CA 94588. Founded in 2007, Fulcrum BioEnergy, Inc. has developed a proprietary process, using commercially proven technology, to convert waste that would otherwise be landfilled or incinerated, into low-carbon, ultra clean burning liquid transportation fuels (Fulcrum FuelTM). Steel: The uncertainties of a cyclical business. The Late 1980s: Foray into core sector manufacturing. 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. Prior to joining Essar, he has worked with Caf Coffee Day and UB Spirits. The 1980s: Supporting Indias nascent exploration sector. During the period of stoppage, Essar had wisely planned for technology upgrades. The hydrogen will be used to help decarbonise Essars existing production facilities including the new hydrogen powered furnace [1]which was delivered in August this year. The joint venture company then went about consolidating operations and acquiring various telecom circles. For SBI, the proposal posed a real challenge since it involved a first-of-its-kind transaction for the bank as well! Essar is investing to make our refinery at Stanlow, the UKs first low carbon refinery. 2023 PeopleConnect, Inc. d/b/a Addresses.com. The UKs 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. So Essar set up steel manufacturing facilities at Hazira with the objective of gaining value addition. 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. Independently, Essar had acquired licenses in seven circles where Hutchison Essar did not have operations, and in four circles of BPL. Essar Site. At the same time, the 8 MTPA iron ore beneficiation plant at Bailadila and the 267-km slurry pipeline were completed. He was appointed as MD & CEO of Essar Shipping, Ports & Logistics Limited in 2010. Rajiv was awarded the designation of Canadian Investment Manager by the Canadian Securities Institute in 2006. Rahul Taneja is the Managing Director, Human Capital at Essar Capital. Dockers at Stanlow refinery in Cheshire have refused to unload a shipment of Russian oil. Kailash Daultani currently serves as the Managing Director, Treasury and Finance, at Essar Capital. However, Swiss PTT wanted to shut shop as part of its strategy to exit all Asian operations. Suite 220 Again, breaking the tradition of locating manufacturing facilities close to the mines, the Company chose to build the plant at Hazira, a port on the west coast of India. Both these factors led to a stoppage of work at the refinery, The Mid-2000s: Resurrecting the Essar Oil Refinery. 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. His entrepreneurial abilities have enabled the Essar Global portfolio of companies to become one of the leading names in global industry. Prior to joining Essar, he was the CEO of Religare Finvest Limited (RFL) and the Managing Director of Religare Housing Development Finance Corporation (RHDCL). Sponge iron generation capacity was also increased to 5.5 MTPA. A qualified chartered accountant, Kailash joined Essar in 2003 after working with Chaturvedi & Shah and Dewani & Co. Adithya Bhat, with over 27 years of experience in Governance, Risk and Compliance (GRC), is the Chief Risk Officer at Essar Capital. : +91-22- 66601100 Fax: +91-22-66601809 Write to us : Mumbai Essar Equinox Business Park (Peninsula Techno Park), Off Bandra Kurla Complex, This is a massive undertaking, but it is a journey we are fully committed to. He also has rich experience in leading change management, cultural transformation, organisational redesign and restructuring. 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. Located between Manchester and Liverpool on the west coast of the United Kingdom, Stanlow is connected to sea freight routes that extend globally, and are served by a host of international shipping lines such as ACL, MSC and NYK. and more than 70 percent of its shipping revenues came from international operations. 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. 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. 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. Together, these initiatives will help diversify the refinery in a greener direction, and help achieve the UK's decarbonisation goals. The company received underwriting commitments from Chase and Lehman Brothers. It owned 11 land rigs, one offshore rig and a drill ship. Work on the refinery began in 1994, and by 1995, the necessary funding was in place. This prompted Essar to start manufacturing sponge iron. Essar Oil UK said Stanlow was operating as normal during the current fuel crisis, and supplying fuel to north-west petrol stations as normal, as panic buying hits forecourts across the country. The experience in contract drilling prompted the Group to venture into the upstream in the Oil sectori.e. He was chairman and chief executive of J&K Bank for five years. Vertex's low carbon hydrogen production plant will be a core part of the HyNet low carbon cluster. He is an experienced professional and an industry veteran, with 33 years experience with Tata Steel and 11 years with Jindal Steel & Power. Address. Also, the financial sanctions imposed on India subsequent to the Pokhran nuclear test in May 1998 ensured that Essar was banned from raising FCCBs. Contact Us. Moreover, the quality of scrap was also not always up to the mark. Stanlow is a key strategic national asset, annually producing over 16% of the UK's road transport fuels, while playing an important part in Britain's petrochemical industry by providing key feedstocks. Subsequent to the HyGrade takeover, the pellet making capacity was enhanced to 8 MTPA. Essar Oil UK, which operates Stanlow Refinery, and Fulcrum BioEnergy, based in California, US, have teamed up with Stanlow Terminals to develop the . Registered office address The Administration Building 5th Floor, Stanlow Manufacturing Complex, Ellesmere Port, Cheshire, CH65 4HB Company status Active Company type Private limited Company. In 2005, when the vessel rates peaked, Essar sold its five Suezmax tankers at the price at which they were bought in 1994. Essar Logistics took care of the movement of cargo, generated by Essar Steel and Essar Oil, by road. The Stanlow refinery supplies about a sixth of the UKs road fuel. You may not use any information obtained from Intelius for any purpose covered by the FCRA. She has earlier worked with Cipla as Head HR International Business, and has also volunteered with the Akanksha Foundation. He has also advised boards and management on major transactions in 34 countries. Essar owned 33% stake in the consolidated entity. Box 2260 Tempe, Arizona 85280-2260 For all other mailing needs: ASU Foundation P.O. Essar Oil UK, which is being advised by EY, also insists it has made considerable progress to strengthen its financial position and agree new financing. Strategic investments in setting up world-class facilities in Steel, Power, Ports, Oil and Gas. Phone. 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. Worse was to follow. Try LightSource for your strategic sourcing. By this time, all of Essars businesses had grown significantly and the time had come for managing each business as an independent company. He has held key leadership positions at Jindal Steel & Power Ltd, Jet Airways, Essar and Dell international. Legal Disclaimer and Terms and Conditions of Usage, This website uses cookies or similar technologies, to enhance your browsing experience and provide personalized recommendations. Well do this through a combination of our unique geographical location, decades of experience and a passion for a greener, cleaner planet. 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. 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. Essar Ports Limited Essar House, 11, K.K. Essar is investing to make our refinery at Stanlow, the UK's first low carbon refinery. This plant helped Essar Constructions garner expertise in building power plants in addition to its valuable experience in other sectors, including the steel plant for Essar Steel. Stanlow also plays an important part in Britains petrochemical industry, providing feedstocks such as toluene, propylene and ethylbenzene. The 45 million furnace is the first of its kind in the UK, capable of running on a 100% hydrogen source and will replace three existing furnaces at Stanlow. This debt was refinanced later when the government set up the Power Finance Corporation. Stanlow has a highly efficient distribution capability for refined end products: Essar Oil UK remains the lowest cost supplier into the North West and is highly competitive in supplying adjacent markets. The promoters could foresee the demand, a vision that paid rich dividends. Essar wanted to buy out Hutchisons stake and tied up a line of credit of over USD 11 billion. 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. They primarily export from United States with 17 shipments . Sr. 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 . He has worked as an Economic Advisor, and the principal economic policy maker at the state level for seven years. The company's spirited involvement in community service . School of Social Transformation. Following this maiden contract, Essar bagged projects at every major port in the country, including Tuticorin, Mangalore, Goa, Kakinada and Nhava-Sheva in Mumbai. 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. 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 Stanlow Diesel 121.87 ppl, PU10 114.81 ppl. In 2012, he was awarded an excellence award for his contribution to renewable energy and sustainability by the Energy and Environment Foundation. Unite said it had informed the owner of the Ellesmere refinery, India's Essar Group, that its members . Fulcrum is actively developing Fulcrum NorthPoint at the Essar Stanlow Manufacturing Complex in Cheshire, in the North West of England. It vigorously worked towards restructuring its balance sheet, drawing up a three-pronged strategy to address . The company began its operations with the construction of an outer breakwater in Chennai port, an order worth Rs 2.5 crore. M: +44 (0)7805 854 169 E: ian.cotton@essaroil.co.uk . Contact ; Transforming Logistics; New Offerings; Ports & Terminals. Stanlow Terminals Limited Stanlow Manufacturing Complex, Ellesmere Port, Cheshire, CH65 4BD United Kingdom . Prashant holds key positions on several prestigious regulatory and professional boards. In early 2005, Essar restructured the balance sheet and work resumed with renewed vigor on completing the refinery project. Work on the refinery was progressing as per schedule till the first quarter of 1998. The Manchester Ship Canal that connects Liverpool to Manchester also provides further hinterland water connection to North West UK. Doaa AboulThomas AbbottSusan AdamsEmilio AbundioBorzu AfshariRay AdamsAnn Addington, Mesa, AZPhoenix, AZChandler, AZScottsdale, AZGilbert, AZ. Simultaneously, global steel prices started tumbling and reached a historic low of USD 180 per tonne. It bought six new double-hull double-bottom Suezmax tankers between 1991 and 1994, a time when no shipping companies were investing in such vessels. This innovative bio-refinery will convert several hundred thousand tonnes of pre-processed waste, which would have otherwise been destined for incineration or landfill, into approximately 100 million litres of low carbon SAF annually. Around this time, Bombay High had just started producing oil, which needed to be transported onshore. Such emission reductions are approximately 70% and have the future potential to be fully carbon neutral. According to Essar, the Fulcrum NorthPoint venture will complement Essar's wider plans to build a green energy industrial cluster at the Stanlow site, and will fully integrate Essar, Stanlow Terminals, and Fulcrum assets and technology. Over the last five years, EGFL has rebalanced its portfolio by strategically monetising some of the world class assets and businesses built by Essar, which has an entrepreneurial track record of 50 years. Located on the south side of the Mersey Estuary close to Liverpool and Manchester, STL is the newest and largest third party liquid storage business in the UK, controlling 3 million cubic metres of capacity. Today, the Hazira power plant has two power purchase agreementsone with the Gujarat State Electricity Board and the second with Essar Steel. Essar negotiated with the FRN holders for a one-time settlement and refinanced its entire rupee debt at a lower cost. 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. With over 32 years of work experience in the technological sector, Alok leads all new capital investment recommendations to the companys board. Vertex is developing the first large scale, low carbon hydrogen production hub in the UK, as part of the HyNet cluster (www.hynet.co.uk). Stanlow is connected to the rest of the UK by an extensive road network, focused on the M62, M60, M56, M53, A66, A69 East-West corridors and the South and Transpennine routes. EGFL has a globally benchmarked robust risk and regulatory framework. Badrinath Durvasula joined Essar as the Managing Director, Legal, and oversees and advises the legal function for the Energy, Services & Technology sectors. 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. The project was funded by Indian financial institutions and the ECB. epl.secretarial . 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. 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. It still owes 223m, and was reportedly due to start repayments this week. exploration & productionand downstream, into refining. Last month Essar Oil UK announced its participation in the production of blue hydrogen under the HyNet project. Mr Mehra is involved in various Essar initiatives in areas of Business Strategy, Investments, Corporate Governance, Risk Management and Sustainability. In order to lend stability to the Group, Essar planned to enter manufacturing. 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.
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