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. . He is responsible to advise and represent the company for all the legal matters concerning the Energy sector investments and portfolio businesses. 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. He established PetroFina in India and was part of the team that launched Gulf Oil in India post opening up of the market. Mr Viral Gathani is the Managing Director, Finance, Energy, at Essar Capital. 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. Scrap prices were volatile and had to be purchased with precious foreign exchange. Moreover, the quality of scrap was also not always up to the mark. 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. 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. Essar Ports Limited Essar House, 11, K.K. It also complements the announcement last month regarding a blue hydrogen development at Stanlow as part of the HyNet project. Mumbai - 400034 The power plant was originally conceived to cater to Essar Steels requirements, but was later converted to an independent producer with a capacity of 515 MW. ian.cotton@essaroil.co.uk and 07805 854169, Jeff Ovens, Managing Director, UK & Europe, jovens@fulcrum-bioenergy.com and 07399 472 650. The site was chosen due to its industrial nature, a skilled local workforce and existing refinery infrastructure, including a direct pipeline to Manchester Airport which can be used to transport the sustainable aviation fuel to aircraft. Essar Oil UK (EOUK) used the governments pandemic VAT deferral scheme last year, which allowed businesses to delay tax repayments. 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. Essar Oil UK, which operates Stanlow Refinery, and Fulcrum BioEnergy, based in California, US, have teamed up with Stanlow Terminals to develop the . Contact ; Transforming Logistics; New Offerings; Ports & Terminals. 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. The joint venture company then went about consolidating operations and acquiring various telecom circles. As the world comes together to develop innovative ways of generating sustainable energy the supporting storage and transportation infrastructure needs to evolve. The refinery plays a strategic role in the UK economy, supplying 16% of all road transport fuels. [1] www.essaroil.co.uk/news/uks-first-refinery-based-hydrogen-furnace-arrives-at-essar/. It that happened, the refinery would be likely to be taken on by the official receiver, to keep the refinery running. The company's spirited involvement in community service . Fulcrum NorthPoint is expected to begin commercial production in the first quarter of 2027, producing approximately 100 million liters of low carbon sustainable aviation fuel each year. 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. 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. The Manchester Ship Canal that connects Liverpool to Manchester also provides further hinterland water connection to North West UK. 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. With over 20 years of experience in the field of M&A and transactions, he leads all the M&A structuring on complex transactions globally for Essar Capital. All these activities were consolidated under Essar Shipping and Logistics Limited. 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. He was chairman and chief executive of J&K Bank for five years. info@fulcrum-bioenergy.com . Thangapandian Srinivasalu currently serves as the Advisor for investments in the Energy sector at Essar Capital. Vice Chairman & Operating Partner, Metals & Mining, Operating Parter, Infrastructure, MD & CEO, Essar Ports, Sr. Stanlow, 25 th May 2021: A new project that forms part of Essar's plans to decarbonise the Stanlow Refinery in North West England has secured a 7.2m grant from the Industrial Energy Transformation Fund. 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. Fulcrum is actively developing Fulcrum NorthPoint at the Essar Stanlow Manufacturing Complex in Cheshire, in the North West of England. Last month Essar Oil UK announced its participation in the production of blue hydrogen under the HyNet project. Retrieved 30 March 2012. The Fulcrum venture will complement Essar's wider plans to build a green energy industrial cluster at the Stanlow site. 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. Ravi Ruia belongs to the generation of industrialists who have played a significant role in leading Indias industrial renaissance. In this business, too, Essar kept refinancing the debt to reduce finance costs. The Stanlow refinery supplies about a sixth of the UKs road fuel. 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. This prompted Essar to start manufacturing sponge iron. For cheapest and greenest transportation of your products, Beyond Storage He joined Burmah Shell in 1957, also known as Bharat Petroleum Corporation Ltd after it was nationalised, and retired from it as director marketing. Acting as director of several client companies, Rajiv is a Fellow member of the Mauritius Institute of Directors since 2012. This was not sufficient for the business to achieve and sustain long-term growth. So Essar set up steel manufacturing facilities at Hazira with the objective of gaining value addition. 2023 PeopleConnect, Inc. d/b/a Addresses.com. An offering that prides itself in the highest levels of safety to protect our people, your people and the communities we operate in. Sunil Jain is the Operating Partner for Energy transitions. Legal Disclaimer and Terms and Conditions of Usage, This website uses cookies or similar technologies, to enhance your browsing experience and provide personalized recommendations. It also enables the import of large parcels of diesel. Essar merged these circles into Hutchison Essar to create a telecom major. Kailash Daultani currently serves as the Managing Director, Treasury and Finance, at Essar Capital. In 2005, when the vessel rates peaked, Essar sold its five Suezmax tankers at the price at which they were bought in 1994. 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. 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. He plays a key role in managing strategic functions of EGFL. Michelle Lewis, Corporate Affairs Director, Essar: michelle.lewis@essaroil.co.uk / 07805 854169, Peter Ogden, Powerscourt: essar@powerscourt-group.com / 07793 858 211. Dockers at Stanlow refinery in Cheshire have refused to unload a shipment of Russian oil. Essar did not succumb to the pressure. Role Active Director Date of birth July 1961 The 1980s: Supporting Indias nascent exploration sector. With 18 years of experience, he has also served as the Senior Vice President, International Projects and Corporate Finance, with Essar Services. Prior to Essar, he has worked with Archean Group as Group President, and with SIVA group as CEO for about 15 years. 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 Constructions executed pipe laying contracts for all the major oil companies in India, and drinking water pipelines in Gujarat, Tamilnadu and Rajasthan. 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. 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. EOUK had agreed to an accelerated schedule to make this payment. Pleasanton, CA 94588. Thus Essar was able to build one of the most valuable telecom companies in the world. Sale to Brookfield Asset Management Company, 10 MTPA integrated steel manufacturing complex. 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. This led to financial sanctions being imposed on India and Indian companies no longer had access to foreign funds. They primarily export from United States with 17 shipments . Vessel handling, product discharge, processing, blending and more, Connectivity Solutions Work on the refinery began in 1994, and by 1995, the necessary funding was in place. Badrinath Durvasula joined Essar as the Managing Director, Legal, and oversees and advises the legal function for the Energy, Services & Technology sectors. 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. Rajiv was awarded the designation of Canadian Investment Manager by the Canadian Securities Institute in 2006. The steel generation capacity at the Hazira plant was raised from 2 MTPA to 2.4 MTPA through de-bottlenecking. 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. Mumbai Essar Essar House 11, Keshavrao Khadye Marg Mahalaxmi Mumbai 400 034 Maharashtra, India Tel. 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. CH65 4BD, United Kingdom, UKs Largest Sunil is also the President of Wind Independent Power Producers Association. 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. Essar also entered the power and telecom sectors as and when they were opened up to private participation. Prashant has been an integral part of EGFLs operations and management since 1985 and a key driver of the Funds growth, diversification and value creation, both within India and internationally. Essar Oil (UK) Ltd is committed to playing a key role in the decarbonisation of the UK economy, with ambitious plans to build an energy transition cluster at Stanlow. 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. The company received underwriting commitments from Chase and Lehman Brothers. Ellesmere Port, Cheshire, Regular ferry services connect Stanlow from Liverpool and Holyhead to Ireland, Isle of Man, Northern Ireland and northern Spain. Sr. This is a massive undertaking, but it is a journey we are fully committed to. 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. With over 27 years of work experience in diverse industries ranging from Manufacturing (Metals, Mining & Power Generation) to Services sectors (Commercial Airline and Technology, inclusive of Business Process Outsourcing sectors), he provides strategic direction to the management of the Mesabi Portfolio. 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. Additionally, he is also a member of the India-Indonesia CEOs Forum. . Contact information for Essar companies in India and worldwide . 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. 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. Mr Mehra is involved in various Essar initiatives in areas of Business Strategy, Investments, Corporate Governance, Risk Management and Sustainability. 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. Correspondence address Essar Oil (uk) Limited, Lansdowne House - 2nd Floor East, Berkeley Square, London, England, W1J 6ER . Prior to joining Essar, he was associated with EY as a Partner for 11 years. Prior to being the Managing Director at Essar Capital, Rakesh has been at leadership positions in Essar Ports. Stein Ivar Bye, Chief Executive Officer, Essar Oil UK, commented: Stanlow has produced high quality energy products for over 60 years and we intend to remain a key national supplier of energy for the UK into the future. Along with brother Ravi, Shashi Ruia laid the foundation of Essar and spearheaded its business strategy, diversification and growth. 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. Fulcrum is actively developing Fulcrum NorthPoint at the Essar Stanlow Manufacturing Complex in Cheshire, in the North West of England. An oil giant has announced plans to invest 1.9bn in Stanlow oil refinery in Cheshire, including establishing a plant to supply industrial hydrogen. 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. The Essar Group was established by Mr. Shashi Ruia and Mr. Ravi Ruia in 1969, in South 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. Srinivasan Vaidyanathan is the Operating Partner, Technology & Retail, at Essar Capital. Essar was founded in 1969 by his father, Shashi Ruia and uncle Ravi Ruia. 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. He is responsible for investigation, analysis and assessment of risk, and accordingly design and implement strategies and processes which mitigate these threats. 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 is respected for his project execution skills, financial expertise and people management capabilities. It owned 11 land rigs, one offshore rig and a drill ship. 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. Stanlow, 15th February, 2021. Essar Energy locked in negotiations with HMRC over VAT payment delayed because of pandemic. In 2005, when the government came out with the unified licensing scheme, the JV started merging all the telecom circles. 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. Copyright 2023 Essar. Northampton Diesel 121.98 ppl, PU10 114.89 ppl. Unlike other fuel technologies currently being considered by industry, the use of SAF does not require changes to aircraft, engines, or airport infrastructure. When Essar conceived the project, international steel prices were in the region of USD 450 per tonne. For SBI, the proposal posed a real challenge since it involved a first-of-its-kind transaction for the bank as well! 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. 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. Until the mid-1980s, Essar was focused on the service sectors of construction and shipping, which were prone to cyclical volatility. 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. He has held key leadership positions at Jindal Steel & Power Ltd, Jet Airways, Essar and Dell international. However, the recovery from the pandemic has been slower than predicted, the company said, adding that it hopes for a resolution soon. Recently, he was also awarded Business Leader of the Year in the NBFC segment by ET Now. He has overseen Essars BPO and Power businesses, Smiti is a self-driven business leader and a true entrepreneur at heart. However, Essars chosen policy was to get into areas of import substitution, high technology and national importance. In the early 1990s, the Indian economy was liberalised and many industries that were hitherto monopolised by public sector companies were opened up to the private sector. Having completed his law degree from the University of Leeds, United Kingdom, Andrew has over 25 years of rich experience. Essar also reentered the contract drilling services business after a hiatus of three years. Essar Energy, which owns the Stanlow. Plant owner. Six business areas in the core sectorConstruction, Shipping, Steel, Power, Oil & Gas, and Telecommunicationswere identified as growth drivers for the Group. Email. 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. Madhu Vuppuluri is the Operating Partner, Metals & Mining, Essar Capital. The construction and shipping businesses grew rapidly and Essar gradually established itself as a leading marine and industrial construction company. Within 18 months after work resumed, Essar began commissioning the refinery in phases. You may not use any information obtained from Intelius for any purpose covered by the FCRA. Utilising our strong geographical position and experience in the energy sector, we are providing delivery solutions based on the ability to safely handle energy products to meet the needs of todays society and tomorrows society. As Fulcrum's first facility in the United Kingdom, NorthPoint will be located at the Essar Stanlow Manufacturing Complex in Ellesmere Port, Cheshire. 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. Essar continues to be the largest Indian exporter of flat steel. All of its portfolio companies share the Funds ESG centric value system, reflecting the philosophy of placing people before profit. His strength lies in leading new business development opportunities and conducting preliminary due diligence and analysis of emergent companies and partners. His academic research paper on Sustainability and Renewable Consumption Obligation has been presented at forums of international repute. The pipe laying division of the company was certified at ISO 9002. The experience in contract drilling prompted the Group to venture into the upstream in the Oil sectori.e. 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 . 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.
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