B.C. Rakesh Kankanala is the Managing Director, Managing Director, M&A, Infrastructure, of Essar Capital. Suite 220 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. Address. The Fulcrum venture will complement Essar's wider plans to build a green energy industrial cluster at the Stanlow site. Along with brother Ravi, Shashi Ruia laid the foundation of Essar and spearheaded its business strategy, diversification and growth. Sale included 20 MTPA refinery, retail, port and related infrastructure. 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. A general view of Essar Oil UK's Stanlow oil refinery near Ellesmere Port, Britain, September 27, 2021. Managing Director, Finance, Infrastructure, Technology & Retail, Managing Director, Business Development, Metals & Mining, Download Corporate Film(Extended Version). Also, the financial sanctions imposed on India subsequent to the Pokhran nuclear test in May 1998 ensured that Essar was banned from raising FCCBs. Essar Energy enters into agreement to buy Royal Dutch Shell's Stanlow refinery for US$350 million. Essar and the + device are registered trademarks of the Rising Groups Limited, an Essar Group company. Similarly, Essar Bulk Terminal was set up to create bulk terminal facilities at Hazira and other ports. All companies under the TTP have been given until January 2022 to meet their commitments. Additionally, he has held leadership positions at IAA Healthcare, Metropolitan Insurance, CIM Global Business, CIM Asset Management, Ireland Blyth Limited and HSBC respectively. Essar G. Ltd is the primary contact at E-Telequest, Inc. E-Telequest, Inc generates approximately USD 13,100,000.00 in revenue annually, and employs around 300 people at this location. Essar To Build UK'S First Refinery-based Hydrogen Furnace in 45 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 prompted Essar to start manufacturing sponge iron. The company's spirited involvement in community service . All Rights Reserved. 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. info@fulcrum-bioenergy.com . It also enables the import of large parcels of diesel. All of its portfolio companies share the Funds ESG centric value system, reflecting the philosophy of placing people before profit. 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. With Assets Under Management (AUM) of USD 8.2 billion, as on 31 March 2021, and a net asset value of USD 4.4 billion, the current investment portfolio of EGFL is future centric and value accretive. 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. Box 2260 Tempe, Arizona 85280-2260 For all other mailing needs: ASU Foundation P.O. 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. Rajiv was awarded the designation of Canadian Investment Manager by the Canadian Securities Institute in 2006. ESSAR OIL (UK) LIMITED - Find and update company information He holds a BA (Hons) in Economics and a Masters in Investment and Finance. EOUK had agreed to an accelerated schedule to make this payment. Essar to make 1.98bn energy transition investment | Zenoot Essar did not succumb to the pressure. 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. Within 18 months after work resumed, Essar began commissioning the refinery in phases. Essar Site. A slew of projects in each of these businesses were initiated in the 1990s when the Indian economy was booming. All its Suezmax tankers were approved by oil majors, an endorsement that fetches a premium in freight. Essar Oil UK to build $430 mln carbon capture facility at Stanlow Left with no option, Essar was forced to default on the FRN loan, despite having made concrete plans for refinancing. Having completed his law degree from the University of Leeds, United Kingdom, Andrew has over 25 years of rich experience. Essar Global Fund invests, builds and nurtures a portfolio of world-class companies through Essar Capital, its investment manager. Work on the refinery was progressing as per schedule till the first quarter of 1998. These include the construction of two new low carbon hydrogen production units on site as part of HyNet, with a planned total investment of 1 billon. Vertex's low carbon hydrogen production plant will be a core part of the HyNet low carbon cluster. 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. Contact ; Transforming Logistics; New Offerings; Ports & Terminals. The combined cycle power plant was state-of-the-art and was capable of using multi fuel with technology from General Electric, Hanjung and Siemens. 4900 Hopyard Road The development will see Fulcrum, whose parent is based in California, United States, construct, own and operate the plant within Essar's Stanlow Manufacturing Complex in the North West of England. ian.cotton@essaroil.co.uk and 07805 854169, Jeff Ovens, Managing Director, UK & Europe, jovens@fulcrum-bioenergy.com and 07399 472 650. 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. Essar was founded in 1969 by his father, Shashi Ruia and uncle Ravi Ruia. The experience in contract drilling prompted the Group to venture into the upstream in the Oil sectori.e. He joined Essar in early 2000 and has played a key role on strategic investments of Essar in core economy and infrastructure sectors. Essar Oil UK Contact us Contact us How can we help you? Object reference not set to an instance of an object. Priya Chakravarty is the Senior Director, HR, at Essar Capital. Workers at Stanlow oil refinery refuse to unload cargo of Russian oil Leveraging his extensive business network, Firdhose has also played an active role in assisting portfolio companies with business development and cross-border transactions or business relationships across Africa, the Middle East and Asia. Phone. Essar Oil UK is committed to helping drive the UK's decarbonisation strategy. An oil giant has announced plans to invest 1.9bn in Stanlow oil refinery in Cheshire, including establishing a plant to supply industrial hydrogen. 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. 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. Essar braced itself for the oncoming challenge. Plant owner. 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. 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. 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. So Essar set up steel manufacturing facilities at Hazira with the objective of gaining value addition. epl.secretarial . 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. Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk, Original reporting and incisive analysis, direct from the Guardian every morning. Unite said it had informed the owner of the Ellesmere refinery, India's Essar Group, that its members . 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. Maharashtra, India, Copyright 2021 All rights reserved Essar also entered the power and telecom sectors as and when they were opened up to private participation. Sunil Jain is the Operating Partner for Energy transitions. M: +44 (0)7805 854 169 E: ian.cotton@essaroil.co.uk . 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. Haseeb Drabu is an economist with over 30 years of experience with diverse skill-sets and wide-ranging experience as a lawmaker, policy planner, banker and an economic commentator. 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 . By this time, all of Essars businesses had grown significantly and the time had come for managing each business as an independent company. 20 August 2011. Essar Energy locked in negotiations with HMRC over VAT payment delayed because of pandemic. Around the mid-1980s, the Government also opened up the contract drilling business to Indian private companies. Marg, Anshuman Ruia is known for his financial expertise and project execution skills. Such emission reductions are approximately 70% and have the future potential to be fully carbon neutral. There was an FCCB (Foreign Currency Convertible Bonds) component that needed to be raised abroad in the latter half of 1998. 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. Marg, Mahalaxmi, Mumbai - 400034 Maharashtra, India. Essar is already making rapid progress against its broader decarbonisation targets. Andrew Wright is the Managing Director, Legal, at Essar Capital. Essar Group bets $3.6 billion on decarbonisation in India and UK exploration & productionand downstream, into refining. Both these factors led to a stoppage of work at the refinery, The Mid-2000s: Resurrecting the Essar Oil Refinery. It invested in relevant logistics assets. This will produce (in its initial phases) 1GW of hydrogen (the equivalent energy use of a large UK city like Liverpool) and capture some 1.8 million tonnes of carbon per annum. This is great news for the North West, with hundreds of jobs created as the region takes the lead in making aviation greener.I hope this is a sign of great things to come as we look forward to a sustainable, low carbon future for aviation, helping us push forward towards our 2050 net-zero target. 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. Essar launches EET to invest US$3.6 billion in energy transition in the Prior to joining Essar, he was the CEO of Religare Finvest Limited (RFL) and the Managing Director of Religare Housing Development Finance Corporation (RHDCL). Inside the Plant At a Glance. The promoters could foresee the demand, a vision that paid rich dividends. 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. He plays a key role in managing strategic functions of EGFL. He has played an integral role in many landmark private equity transactions and has also managed many regional and global private equity funds. The company approached State Bank of India (SBI), a leading public sector bank in India, for a loan. He has also advised boards and management on major transactions in 34 countries. They primarily export from United States with 17 shipments . Name Address Address(maps) LinkedIn Alibaba AliExpress Global Sources Want to send an RFI or RFQ to this supplier? What started out with an initial investment of USD 800 million had reached a valuation of USD18.8 billion in just six years. It owned 11 land rigs, one offshore rig and a drill ship. 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. Being one of the low-cost steel producers, Essar managed to make operating profits. 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. The Stanlow refinery supplies about a sixth of the UKs road fuel. Essar Group to invest $3.6bn in low carbon energy in UK and India With 18 years of experience, he has also served as the Senior Vice President, International Projects and Corporate Finance, with Essar Services. 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. Essar merged these circles into Hutchison Essar to create a telecom major. Essar had financed the project through a combination of rupee debt and Floating Rate Notes (FRN)both on a five-year tenure. In 2005, when the vessel rates peaked, Essar sold its five Suezmax tankers at the price at which they were bought in 1994. 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. The ambitious plan sets firm foundations to accelerate the UK's path to net zero while transforming the economy, boosting employment and delivering growth. Hutchison Essars subscriber base, too, has risen from 1,50,000 to 28 million. . Essar will achieve its decarbonisations targets through a combination of incremental (energy efficiency and operating improvements) and transformational projects, including the 360 million carbon capture plant announced today, but also as a result of the significant investments Essar is making into hydrogen and biofuels. Essar Ports Unlike other fuel technologies currently being considered by industry, the use of SAF does not require changes to aircraft, engines, or airport infrastructure. Because of Essars experience in marine construction projects, the shipping business was a natural extension. After a fierce round of bidding that involved several corporations, Vodafone bought the Hutchison stake valued at USD 11.5 billion. Essar followed up this success, by setting up a pellet plant in Visakhapatnam as part of its backward integration strategy. 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. Kailash Daultani currently serves as the Managing Director, Treasury and Finance, at Essar Capital. However, the recovery from the pandemic has been slower than predicted, the company said, adding that it hopes for a resolution soon. Tripathi is the Vice Chairman, Exploration & Production at Essar Capital, and has over 36 years of experience across Operation & Maintenance of Pipelines, Project Management, Contracts Management, Customer Relationship Management, Marketing etc. and more than 70 percent of its shipping revenues came from international operations. Prior to being the Managing Director at Essar Capital, Rakesh has been at leadership positions in Essar Ports. 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. Gifts and Donations to: ASU Foundation Attn:Financial Services P.O. Media contact. At that price, steel plant operations were simply unsustainable. Sr. Essar Oil (UK) Limited 2021. 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. Vessel handling, product discharge, processing, blending and more, Connectivity Solutions Firdose Coovadia is an Advisor, Metals & Mining, at Essar Capital. By 2006, all the circles were under one umbrellaHutchison Essar Limited. Intelius reports cannot be used for background checks related to consumer credit, insurance, employment, housing or any other purpose prohibited under the FCRA. 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. Tempe, AZ White Pages. Even during the downturn in the shipping industry, Essar Shipping registered profits. Legal Disclaimer and Terms and Conditions of Usage, This website uses cookies or similar technologies, to enhance your browsing experience and provide personalized recommendations. The energy industry is changing. 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. Sale to Brookfield Asset Management Company, 10 MTPA integrated steel manufacturing complex. Correspondence address The Administration Building, 5th Floor, Stanlow Manufacturing Complex, Ellesmere Port, Cheshire, CH65 4HB . 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