Essar Constructions grew its activities considerably over the years. Essar negotiated with the FRN holders for a one-time settlement and refinanced its entire rupee debt at a lower cost. 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. Copyright 2023 Essar. Six business areas in the core sectorConstruction, Shipping, Steel, Power, Oil & Gas, and Telecommunicationswere identified as growth drivers for the Group. He has been a key member of several industry committees like Confederation of Indian Industries, Federation of Indian Commerce Industries, The Associated Chamber of Commerce & Industry of India and SUPERBRANDS for several years. The steel generation capacity at the Hazira plant was raised from 2 MTPA to 2.4 MTPA through de-bottlenecking. Unite said it had informed the owner of the Ellesmere refinery, India's Essar Group, that its members . The construction of two blue hydrogen production hubs at Stanlow will attract 750 million pounds ($1 Billion) in total investment and support a hydrogen economy across North West England and North East Wales. It still owes 223m, and was reportedly due to start repayments this week. Additionally, he has held leadership positions at IAA Healthcare, Metropolitan Insurance, CIM Global Business, CIM Asset Management, Ireland Blyth Limited and HSBC respectively. Top-lines crashed, while interest rates were at their highest ever (Prime Lending Rates had touched 17 percent). The experience of contract drilling gave Essar an opportunity to understand the oil business better, and setting up the refinery was the logical thing to do. Located near Ellesmere Port in north west England, the Stanlow refinery is the second largest in the UK. Having started his career with HPCL, he worked with National Oil Nigeria, Reliance Industries Ltd., TotalFinaELF and Gulf Oil India. 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. They primarily export from United States with 17 shipments . He has led natural resources sector businesses for major investment banks globally. Anshuman Ruia is known for his financial expertise and project execution skills. Many steel companies at that time went down under. Essar also reentered the contract drilling services business after a hiatus of three years. Also, the financial sanctions imposed on India subsequent to the Pokhran nuclear test in May 1998 ensured that Essar was banned from raising FCCBs. Ensuring your bulk liquid products reach their destinations with ease. 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 . 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. 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. 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. The site directly employs more than 900 people, with an additional 800 on-site contractors and a further 5,000 people working indirectly within the extended value chain, according to Essar Oil UK's website. 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. Stanlow. Being the largest independent means we can move quickly to meet your bulk liquid storage needs, Unique Refinery Access Sr. Media contact. The Fulcrum venture will complement Essar's wider plans to build a green energy industrial cluster at the Stanlow site. It also enables the import of large parcels of diesel. Prashant is part of the second generation of the Ruia family that founded Essar. Not only is it the right environmental thing to do, it will future proof the critical Stanlow refinery for the long term, protecting jobs and industry, while also placing Stanlow at the very centre of the UKs energy transition.. Stanlow Terminals Limited He has over 25 years of work experience in the field of M&A and Transactions. The sponge iron plant became a hugely successful venture. Essar Logistics took care of the movement of cargo, generated by Essar Steel and Essar Oil, by road. At Stanlow Terminals, we pride ourselves on being flexible to our customers' needs, with a market leading storage offering. Kailash Daultani currently serves as the Managing Director, Treasury and Finance, at Essar Capital. For SBI, the proposal posed a real challenge since it involved a first-of-its-kind transaction for the bank as well! Rakesh Kankanala is the Managing Director, Managing Director, M&A, Infrastructure, of Essar Capital. Essar is already making rapid progress against its broader decarbonisation targets. Since Essar did not have prior experience in this industry, it roped in Swiss PTT as a joint venture partner. After a fierce round of bidding that involved several corporations, Vodafone bought the Hutchison stake valued at USD 11.5 billion. The Essar Group was established by Mr. Shashi Ruia and Mr. Ravi Ruia in 1969, in South India. Essar became the first Indian company to operate in the waters of the Atlantic. Around the mid-1980s, the Government also opened up the contract drilling business to Indian private companies. 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. It also bought Stemcors 100 percent stake in Steel Corporation of Gujarat (SCGL) which had set up a 1.2 MTPA cold-rolling complex at Hazira. Hazira was also the land fall point for gas from the Bassein gas field in Bombay High. He is on the Boards of World Steel Association, and the Metals & Mining and Energy industry Committee of the World Economic Forum. By 2030, Vertex expects to deliver nearly 4GW of low carbon hydrogen, equivalent to c.40% of the UK Governments national target. All companies under the TTP have been given until January 2022 to meet their commitments. Essar had contracts with Chevron, Exxon-Mobil, Stat Oil, Shell, etc. All of its portfolio companies share the Funds ESG centric value system, reflecting the philosophy of placing people before profit. The commissioning was completed in October 1997. NEW DELHI: The Essar group on Monday announced a USD 3.6 billion investment in low carbon energy transition projects in the UK and India including the production of green hydrogen and ammonia. Purchasing and Supplier Management (PSM) enquiry, Essar Oil UK Ltd - Code Of Conduct.pdf document - PDF | 4.8MB, Essar Oil UK - Anti-Slavery and Human Trafficking Statement.pdf document - PDF | 85.6KB, Essar Gender Pay Gap 2021.pdf document - PDF | 1.2MB, Tax Strategy Policy.pdf document - PDF | 481.5KB. It owned 11 land rigs, one offshore rig and a drill ship. Essar Oil (UK) Limited 2021. Stanlow Oil refinery at Ellesmere Port in northwest England Why you can trust Sky News The owner of the vast Stanlow oil refinery in north-west England is in urgent talks about its future amid concern that it could be nearing collapse. 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. Together, these initiatives will help diversify the refinery in a greener direction, and help achieve the UK's decarbonisation goals. With over 15 years of experience in diverse fields including media & publishing, corporate communications. 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. 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. Vikash Saraf is the non-executive director of Essar Capital. Essar Energy enters into agreement to buy Royal Dutch Shell's Stanlow refinery for US$350 million. With over 32 years of work experience in the technological sector, Alok leads all new capital investment recommendations to the companys board. It vigorously worked towards restructuring its balance sheet, drawing up a three-pronged strategy to address . 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. Eventually, the loan was sanctioned, with a repayment structure that was unique for its time. as panic buying hits forecourts across the country. It monitors and manages the entire portfolio of investments owned by EGFL. This was a time when the movement of petroleum products along the Indian coast was the monopoly of foreign-flag vessels, and no shipping companies in India would venture into this business as it was considered risky and involved the management of advanced technology. 11, K.K. 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. He has significant experience of managing strategic transactions, acquisitions and raising capital across industries including Financial Services, Information Technology and Manufacturing (Cement, Sugar, Refractories, Power, Renewable Energy, Steel & Healthcare). 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. Our sights are firmly set on helping to drive the UK's decarbonisation strategy. 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. Kent plc has been awarded a pre-FEED engineering contract to develop the facility that will take the CO2 emitted from one of Europes largest full-Residue Fluidised Catalytic Cracking units, located at the Stanlow refinery. He established PetroFina in India and was part of the team that launched Gulf Oil in India post opening up of the market. Essar teamed up with Brown & Root of USA in laying an under-sea pipeline from the offshore Bassein gas field to Hazira. Alok Gupta is the Operating Partner, Technology & Retail, at Essar Capital. Dockers at Stanlow refinery in Cheshire have refused to unload a shipment of Russian oil. Priya Chakravarty is the Senior Director, HR, at Essar Capital. Stanlows reconfigured and optimised single train operation delivers significant upgrading capability and produces an above average proportion of middle distillates, principally diesel and jet fuel, helping to addressthe significant and growing deficit in the UK and Europe. 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. Essar Oil (UK) Limited (Essar) is delighted to join forces with Fulcrum BioEnergy Limited (Fulcrum) and Essar's subsidiary company Stanlow Terminals Limited to create a new facility which will convert non-recyclable household waste into sustainable aviation fuel (SAF) for use by airlines operating at UK airports. But this was not sufficient to meet its debt obligations. He has a strong professional record in streamlining litigation, M&A, turnkey contract management, IPR, project financing, international arbitration and compliance support. The pipe laying division of the company was certified at ISO 9002. Box 874308 Main phone: 480-965-7682 Fax: 480-965-9199 Undergraduate & Graduate Advising. Stanlow has 800 employees, and is a key strategic national asset, annually producing over 16% of the UKs road transport fuels, while playing a key role in Britains broader petrochemical industry. Run a search by name for anyone in Tempe, Arizona & get free white pages information instantly. Left with no option, Essar was forced to default on the FRN loan, despite having made concrete plans for refinancing. Essar sponsors Indias largest annual junior soccer hunt challenger, Essar pledges to make substantial investment in the state of Odisha, www.essaroil.co.uk/news/uks-first-refinery-based-hydrogen-furnace-arrives-at-essar/, Essars ambition is to be a leading low carbon refinery, with a long-term transformation into a low carbon energy provider, Major driver of carbon reduction will be the construction of a 360 million CO2 Capture Plant, set to start in Q1 2025, with completion in 2027. As the world comes together to develop innovative ways of generating sustainable energy the supporting storage and transportation infrastructure needs to evolve. 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. Investing in an end-to-end logistics infrastructure. He was appointed as MD & CEO of Essar Shipping, Ports & Logistics Limited in 2010. 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. Email. By offering efficient low carbon logistics solutions to develop third party business we support diversification of the traditional refinery business and become a fundamental part of the UK drive to become carbon neutral. Independently, Essar had acquired licenses in seven circles where Hutchison Essar did not have operations, and in four circles of BPL. . Unlike other fuel technologies currently being considered by industry, the use of SAF does not require changes to aircraft, engines, or airport infrastructure. 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. It invested in relevant logistics assets. 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. 2023 PeopleConnect, Inc. d/b/a Addresses.com. Ellesmere Port, Cheshire, He has held several leadership positions at Adani Group, Larson & Toubro Ltd, Binani Industries Ltd. amongst others. In her last assignment as Chief People Officer Hometown & Ezone, Priya was responsible for driving a transformational HR agenda that focused on organisational culture, building a talent pipeline, and initiating & aligning all people practices to business achievement. You may not use any information obtained from Intelius for any purpose covered by the FCRA. Essar Steel was now a producer of flat steel and joined the select group of Indian companies that produced this commodity. Maharashtra, India, Copyright 2021 All rights reserved He is a part of the Management Committee of Essar Capital. An offering that prides itself in the highest levels of safety to protect our people, your people and the communities we operate in. Contact ; Transforming Logistics; New Offerings; Ports & Terminals. 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. At that price, steel plant operations were simply unsustainable. In 2012, he was awarded an excellence award for his contribution to renewable energy and sustainability by the Energy and Environment Foundation. 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. 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. This included an oil terminal at Vadinar with a capacity to receive 32 MTPA of crude, 14 MTPA product dispatch facilities through sea, crude storage facilities, and product dispatch facilities by road and rail. Essar bought Stanlow in 2011 An oil giant has announced plans to invest 1.9bn in Stanlow oil refinery in Cheshire, including establishing a plant to supply industrial hydrogen. Essar Group is to invest $3.6bn developing low-carbon energy in the UK and India under the newly formed Essar Energy Transition (EET). . Well do this through a combination of our unique geographical location, decades of experience and a passion for a greener, cleaner planet. When Essar conceived the project, international steel prices were in the region of USD 450 per tonne. Intelius does not provide consumer reports and is not a consumer reporting agency as defined by the FCRA. In those early days of the telecom boom in India, effective policies were lacking and private telecom businesses were faced with several problems. exploration & productionand downstream, into refining. Worse was to follow. REUTERS/Phil Noble LONDON, Nov 30 (Reuters) - Essar Oil UK said on Wednesday it planned. After achieving success and recognition in India, the Company was now poised to venture overseas. Last month Essar Oil UK announced its participation in the production of blue hydrogen under the HyNet project. The construction and shipping businesses grew rapidly and Essar gradually established itself as a leading marine and industrial construction company. Essar had financed the project through a combination of rupee debt and Floating Rate Notes (FRN)both on a five-year tenure. In early 2005, Essar restructured the balance sheet and work resumed with renewed vigor on completing the refinery project. M: +44 (0)7805 854 169 E: ian.cotton@essaroil.co.uk . The company received underwriting commitments from Chase and Lehman Brothers. Having completed his law degree from the University of Leeds, United Kingdom, Andrew has over 25 years of rich experience. A new value-centric growth strategy based on Entrepreneurship, Expertise and Experience along with a robust governance system and structure will deliver superior returns, sustainably. Marg, Mahalaxmi, Mumbai - 400034 Maharashtra, India. He also worked at Essar Oil Limited, India, as CEO Marketing & IST, and was responsible for Retail Sales, Direct Sales, Retail Network Expansion, Sourcing Crude, Trading of Petroleum Products and Supply & Distribution in India and Kenya. A slew of projects in each of these businesses were initiated in the 1990s when the Indian economy was booming. Mr Viral Gathani is the Managing Director, Finance, Energy, at Essar Capital. Prashant holds key positions on several prestigious regulatory and professional boards. Managing Director, Finance, Infra, Tech & Retail, at Essar Capital. EOUK had agreed to an accelerated schedule to make this payment. Our ambition is to become a leading low carbon refinery. 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 this time, Bombay High had just started producing oil, which needed to be transported onshore. 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. Were primed to lead the national charge in the development of changing energy infrastructure and create the UKs first sustainable energy hub. Stanlow Terminals Limited Stanlow Manufacturing Complex, Ellesmere Port, Cheshire, CH65 4BD United Kingdom .
