Stanlow. Even during the downturn in the shipping industry, Essar Shipping registered profits. The sponge iron plant became a hugely successful venture. 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. Managing Director, Finance, Infra, Tech & Retail, at Essar Capital. 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. He is respected for his project execution skills, financial expertise and people management capabilities. Rahul Taneja is the Managing Director, Human Capital at Essar Capital. . The remainder of our products leave via the Manchester Ship canal, The energy recovery plant processes both liquid and solid waste and is capable of generating 350 tonnes of steam every day for refinery use, Products manufactured by chemicals produced at Stanlow are used in the manufacture offoams for furniture and bedding, artificial sports tracks, ski suits and waterproof leisure wear. He was the Chief Executive Officer and Board Member at Essar Oil UK Limited. Essar Oil UK, which operates Stanlow Refinery, and Fulcrum BioEnergy, based in California, US, have teamed up with Stanlow Terminals to develop the . He has over 25 years of work experience in the field of M&A and Transactions. The sponge iron plant, initially set up with a capacity of 0.88 million tonne per annum (MTPA), was expanded to produce 1.32 MTPA. Thangapandian Srinivasalu currently serves as the Advisor for investments in the Energy sector at Essar Capital. Mr Viral Gathani is the Managing Director, Finance, Energy, at Essar Capital. 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. Eventually, the loan was sanctioned, with a repayment structure that was unique for its time. The green energy projects will include an investment of $1.2 billion in green ammonia manufacturing in India. 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. 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. Within 18 months after work resumed, Essar began commissioning the refinery in phases. Essar is investing to make our refinery at Stanlow, the UK's first low carbon refinery. Regular ferry services connect Stanlow from Liverpool and Holyhead to Ireland, Isle of Man, Northern Ireland and northern Spain. 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. 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. 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. 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. A slew of projects in each of these businesses were initiated in the 1990s when the Indian economy was booming. 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. Object reference not set to an instance of an object. He is a part of the Management Committee of Essar Capital. Gifts and Donations to: ASU Foundation Attn:Financial Services P.O. Prior to joining Essar, he has worked with Caf Coffee Day and UB Spirits. Essar Energy locked in negotiations with HMRC over VAT payment delayed because of pandemic. Doaa AboulThomas AbbottSusan AdamsEmilio AbundioBorzu AfshariRay AdamsAnn Addington, Mesa, AZPhoenix, AZChandler, AZScottsdale, AZGilbert, AZ. After achieving success and recognition in India, the Company was now poised to venture overseas. As the world comes together to develop innovative ways of generating sustainable energy the supporting storage and transportation infrastructure needs to evolve. In 1999, the government announced a new telecom policy that was more conducive to growth. 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. 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 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. CH65 4BD, United Kingdom, UKs Largest Essar owned 33% stake in the consolidated entity. Contact Us. Essar Logistics took care of the movement of cargo, generated by Essar Steel and Essar Oil, by road. It owned 11 land rigs, one offshore rig and a drill ship. 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. 2023 PeopleConnect, Inc. d/b/a Addresses.com. Essar and the + device are registered trademarks of the Rising Groups Limited, an Essar Group company. EGFL has a globally benchmarked robust risk and regulatory framework. This brought down the capital cost per tonne of steel, which helped reduce overall cost of production. The Stanlow refinery supplies about a sixth of the UKs road fuel. Managing Director, Finance, Metals & Mining. 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). 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. Raj Varma is an Advisor, at Essar Capital. Essar Group is to invest $3.6bn developing low-carbon energy in the UK and India under the newly formed Essar Energy Transition (EET). Investing in an end-to-end logistics infrastructure. Essar merged these circles into Hutchison Essar to create a telecom major. Email address: SSTAdvising@asu.edu / SSTGradAdvising@asu.edu Phone: 480-965-7682 Location: Advising offices are located in 777 Novus, Suite . In those early days of the telecom boom in India, effective policies were lacking and private telecom businesses were faced with several problems. Badrinath Durvasula joined Essar as the Managing Director, Legal, and oversees and advises the legal function for the Energy, Services & Technology sectors. Email. There was an FCCB (Foreign Currency Convertible Bonds) component that needed to be raised abroad in the latter half of 1998. 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. This prompted Essar to start manufacturing sponge iron. What started out with an initial investment of USD 800 million had reached a valuation of USD18.8 billion in just six years. 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 Hydrogen is a joint venture between Essar Oil UK and Progressive Energy. Low carbon hydrogen will be produced at the Stanlow Manufacturing Complex located in Ellesmere Port, Cheshire. Essar and the + device are registered trademarks of the Rising Groups Limited, an Essar Group company. 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. India in those days had secondary steel makers who used imported scrap to produce steel. Pleasanton, CA 94588. [1] www.essaroil.co.uk/news/uks-first-refinery-based-hydrogen-furnace-arrives-at-essar/. Essar began the process of refinancing one year in advance, in May 1998. Madhu Vuppuluri is the Operating Partner, Metals & Mining, Essar Capital. He is responsible for all HR matters for the Metals & Mining and Services & Technology portfolios. 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. Essar Oil (UK) Limited 2021. In early 2005, Essar restructured the balance sheet and work resumed with renewed vigor on completing the refinery project. He plays a key role in managing strategic functions of EGFL. 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. It vigorously worked towards restructuring its balance sheet, drawing up a three-pronged strategy to address . Rakesh Kankanala is the Managing Director, Managing Director, M&A, Infrastructure, of Essar Capital. Stanlow Manufacturing Complex, He is a strong business development professional with a Mechanical Engineering Degree from Aligarh Muslim University. 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. 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 . Essar became the first Indian company to operate in the waters of the Atlantic. The Fulcrum venture will complement Essar's wider plans to build a green energy industrial cluster at the Stanlow site. 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. He is an experienced professional and an industry veteran, with 33 years experience with Tata Steel and 11 years with Jindal Steel & Power. In 1995, a few months after mobile telephony was opened up to private participation, Essar became the first company to start GSM operations in Delhi under the brand name, Essar Cellphones. 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. epl.secretarial . Essar Oil UK bought the Stanlow refinery at Ellesmere Port from Shell in 2011. Vice Chairman & Operating Partner, Metals & Mining, Operating Parter, Infrastructure, MD & CEO, Essar Ports, Sr. 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. 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. Contact information for Essar companies in India and worldwide . Just before the issue was launched, India tested the nuclear bomb at Pokhran. 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. A general view of Essar Oil UK's Stanlow oil refinery near Ellesmere Port, Britain, September 27, 2021. Mumbai Essar Essar House 11, Keshavrao Khadye Marg Mahalaxmi Mumbai 400 034 Maharashtra, India Tel. As Fulcrum's first facility in the United Kingdom, NorthPoint will be located at the Essar Stanlow Manufacturing Complex in Ellesmere Port, Cheshire. In addition, Essar Oil UK operates an integrated terminal and marine facility at Stanlow and Tranmere on behalf Stanlow Terminals. He established PetroFina in India and was part of the team that launched Gulf Oil in India post opening up of the market. Work on the refinery began in 1994, and by 1995, the necessary funding was in place. 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 Capital Limited (Essar Capital) is the investment manager of Essar Global Fund Limited (EGFL). This will be the first Fulcrum plant outside the United States. With over 32 years of work experience in the technological sector, Alok leads all new capital investment recommendations to the companys board. 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 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. His entrepreneurial abilities have enabled the Essar Global portfolio of companies to become one of the leading names in global industry. Essar did not succumb to the pressure. Around this time, Bombay High had just started producing oil, which needed to be transported onshore. He is on the Boards of World Steel Association, and the Metals & Mining and Energy industry Committee of the World Economic Forum. 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. You may not use any information obtained from Intelius for any purpose covered by the FCRA. 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. 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 Rajiv Gujjalu serves as Director Essar Global Fund Limited (EGFL). 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. He was chairman and chief executive of J&K Bank for five years. Recently, he was also awarded Business Leader of the Year in the NBFC segment by ET Now. For SBI, the proposal posed a real challenge since it involved a first-of-its-kind transaction for the bank as well! 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. By 2006, all the circles were under one umbrellaHutchison Essar Limited. Earlier this year, it announced its participation in production of blue hydrogen under the HyNet project. Essar House, They primarily export from United States with 17 shipments . Prior to joining Essar, he was associated with EY as a Partner for 11 years. 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. 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. This debt was refinanced later when the government set up the Power Finance Corporation. He has over 28 years of experience in investment banking, private equity, audit and investment in a variety of institutions including KPMG and UBS Warburg. Run a search by name for anyone in Tempe, Arizona & get free white pages information instantly. exploration & productionand downstream, into refining. School of Social Transformation. He holds a BA (Hons) in Economics and a Masters in Investment and Finance. At that price, steel plant operations were simply unsustainable. She has earlier worked with Cipla as Head HR International Business, and has also volunteered with the Akanksha Foundation. This is equivalent to the domestic heating energy used by a major British city region, such as Liverpool. Along with brother Ravi, Shashi Ruia laid the foundation of Essar and spearheaded its business strategy, diversification and growth. As a result, while most shipping companies in India were making losses in the 80s, Essar was reaping profits. He started his career with Escorts Limited where he worked and grew through various roles of operations and business development. In the second quarter, a devastating cyclone hit the western coast of India damaging several structures in the refinery site. All Rights Reserved. Your price for Delivered in supplies will be subject to delivery costs. 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. 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. Now, Essar is all set to team up with the new JV partner Vodafone to take growth to the next level. Suite 220 Currently, he heads the country operations of Afrocentric Group in Mauritius and is the Managing Director of Medscheme International. 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. Not one to lag behind, Essar seized every opportunity that came its way. For cheapest and greenest transportation of your products, Beyond Storage It also complements the announcement last month regarding a blue hydrogen development at Stanlow as part of the HyNet project. Mahalaxmi, as panic buying hits forecourts across the country. Earlier on he has worked with TCS in the beginning of his career. 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. Essar Energy enters into agreement to buy Royal Dutch Shell's Stanlow refinery for US$350 million. Fulcrum is actively developing Fulcrum NorthPoint at the Essar Stanlow Manufacturing Complex in Cheshire, in the North West of England. 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. 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. He joined Essar in early 2000 and has played a key role on strategic investments of Essar in core economy and infrastructure sectors. The FRNs were due for refinancing in 1999, the year that marked the end of the five-year term. 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. : +91-22- 66601100 Fax: +91-22-66601809 Write to us : Mumbai Essar Equinox Business Park (Peninsula Techno Park), Off Bandra Kurla Complex, B.C. The majority of the investment - across a range of hydrogen production technologies, decarbonisation, biofuels and infrastructure projects - will be at its Stanlow site ($2.4bn), with the balance in India. Retrieved 30 March 2012. Pleasanton, CA 94588. During the period of stoppage, Essar had wisely planned for technology upgrades. Essars Indian lenders refused to bail the company out. 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. 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. Most Recent Shipment: 04/07/2022 (Database Updated . However, Swiss PTT wanted to shut shop as part of its strategy to exit all Asian operations. With 18 years of experience, he has also served as the Senior Vice President, International Projects and Corporate Finance, with Essar Services. Essar had financed the project through a combination of rupee debt and Floating Rate Notes (FRN)both on a five-year tenure. Essar braced itself for the oncoming challenge. The commissioning was completed in October 1997. Andrew Wright is the Managing Director, Legal, at Essar Capital. The company's spirited involvement in community service . The energy industry is changing. Sunil is also the President of Wind Independent Power Producers Association. 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. Unite said it had informed the owner of the Ellesmere refinery, India's Essar Group, that its members . He joined Essar as CEO Retail in the year 2010. 4900 Hopyard Road 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. He has led natural resources sector businesses for major investment banks globally. Prashant is part of the second generation of the Ruia family that founded Essar. Since Essar did not have prior experience in this industry, it roped in Swiss PTT as a joint venture partner. 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, The Stanlow Terminals Road Terminal which has significant spare capacity which provides supply resilience for the region, A direct connection via the UK Oil Pipeline through to Kingsbury, Northampton and beyond towards London, A pipeline connection to the UKs busiest regional airport at Manchester, Six berths on the Manchester Ship Canal handling export parcels of up to 10,000 tonnes, 4.4 billion litres of diesel every year - enough to drive a car doing 40 mpg 4,000 times around the equator every day, 3billion litres of petrol a year enough to drive a car 20 million times around the world, 2billion litres of jet fuela year enough to fuel 17,000 jumbo jets flying from Manchester to Los Angeles, Stanlow is one of thelargest refineries in Europe covering an area the equivalent of 300 football pitches, The refinery processes up to 9million tonnes of crude every year - thats more than 20,000 litres per minute, Distribution of products from Stanlow is mainly via road and pipeline. A fleet of 13 onshore rigs and a semi-submersible rig were deployed with clients in India and abroad. Media contact. 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. The plant has a high availability factor of 99 percent. 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. Inside the Plant At a Glance. 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. Until the mid-1980s, Essar was focused on the service sectors of construction and shipping, which were prone to cyclical volatility. 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. The Late 1980s: Foray into core sector manufacturing. Essar had contracts with Chevron, Exxon-Mobil, Stat Oil, Shell, etc. Mr Naushad Ansari is Managing Director, Business Development, at Essar Capital. Simultaneously, global steel prices started tumbling and reached a historic low of USD 180 per tonne. Harnessing our expertise and experience, ambition and can-do approach, we contribute to a more sustainable society while providing value propositions to our partners by simplifying their supply chains. Moreover, the quality of scrap was also not always up to the mark. 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 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. Correspondence address The Administration Building, 5th Floor, Stanlow Manufacturing Complex, Ellesmere Port, Cheshire, CH65 4HB . 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. Kailash Daultani currently serves as the Managing Director, Treasury and Finance, at Essar Capital. 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. We are committed and primed to lead the national charge in the development of a more sustainable energy infrastructure by creating the UKs first eco-friendly energy hub. It also enables the import of large parcels of diesel. Essar Energy. By this time, all of Essars businesses had grown significantly and the time had come for managing each business as an independent company.
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