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. For SBI, the proposal posed a real challenge since it involved a first-of-its-kind transaction for the bank as well! He also served as a member on the Boards of Bharat Shell, and was the managing director of Bharat Oman Refineries Ltd. After a brief stint with Reliance Industries as its advisor, Varma joined Essar Oil as its CEO, Marketing, in 1999. 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. EOUK had agreed to an accelerated schedule to make this payment. Additionally, he has held leadership positions at IAA Healthcare, Metropolitan Insurance, CIM Global Business, CIM Asset Management, Ireland Blyth Limited and HSBC respectively. The steel generation capacity at the Hazira plant was raised from 2 MTPA to 2.4 MTPA through de-bottlenecking. Prior to joining Essar, he was the Vice President and General Counsel at Hindustan Construction Company Ltd. 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. He Joined Essar in 1997 as COO in Essar Telecom and was the Executive Director of Essar Shipping Limited from 1998-2002. Essar merged these circles into Hutchison Essar to create a telecom major. In early 2005, Essar restructured the balance sheet and work resumed with renewed vigor on completing the refinery project. With 18 years of experience, he has also served as the Senior Vice President, International Projects and Corporate Finance, with Essar Services. Vikash Saraf is the non-executive director of Essar Capital. It vigorously worked towards restructuring its balance sheet, drawing up a three-pronged strategy to address . Until then, only foreign construction companies would undertake a project of this magnitude and complexity. Retrieved 30 March 2012. The pipe laying division of the company was certified at ISO 9002. 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. Being one of the low-cost steel producers, Essar managed to make operating profits. 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. 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. In 2005, when the government came out with the unified licensing scheme, the JV started merging all the telecom circles. The Stanlow project, named Fulcrum NorthPoint, will create 800 direct and indirect jobs during the design, build and commissioning process and over 100 permanent jobs during its operation. Well do this through a combination of our unique geographical location, decades of experience and a passion for a greener, cleaner planet. Madhu Vuppuluri is the Operating Partner, Metals & Mining, Essar Capital. Box 874308 Main phone: 480-965-7682 Fax: 480-965-9199 Undergraduate & Graduate Advising. Just before the issue was launched, India tested the nuclear bomb at Pokhran. Sunil is also the President of Wind Independent Power Producers Association. Object reference not set to an instance of an object. Rakesh Kankanala is the Managing Director, Managing Director, M&A, Infrastructure, of Essar Capital. 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. exploration & productionand downstream, into refining. 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. It will also utilise direct pipeline access to pump and transport the SAF to UK airports through the Manchester Jet Line and the UK Oil Pipeline network (UKOP). 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. Firdose has extensive experience in emerging markets, having been involved in advising governments, parastatals and companies in Africa, India, Europe and the Middle East. 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. In those early days of the telecom boom in India, effective policies were lacking and private telecom businesses were faced with several problems. All of its portfolio companies share the Funds ESG centric value system, reflecting the philosophy of placing people before profit. Stanlow contributes an estimated 60 million each year to the local economy and will house the UK's first low carbon hydrogen facility. It involved buying an asset against the securitisation of receivables. Essar Oil UK, which operates Stanlow Refinery, and Fulcrum BioEnergy, based in California, US, have teamed up with Stanlow Terminals to develop the . Steel: The uncertainties of a cyclical business. He also has rich experience in leading change management, cultural transformation, organisational redesign and restructuring. In addition, Essar Oil UK operates an integrated terminal and marine facility at Stanlow and Tranmere on behalf Stanlow Terminals. There was an FCCB (Foreign Currency Convertible Bonds) component that needed to be raised abroad in the latter half of 1998. 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 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 Energy. The company began its operations with the construction of an outer breakwater in Chennai port, an order worth Rs 2.5 crore. 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. His experience spans several sectors including mining and natural resources, telecommunications, business process outsourcing, infrastructure, healthcare and manufacturing. When commercial production began in 1996, this had fallen to USD 380 per tonne. Essar and the + device are registered trademarks of the Rising Groups Limited, an Essar Group company. Many steel companies at that time went down under. ian.cotton@essaroil.co.uk and 07805 854169, Jeff Ovens, Managing Director, UK & Europe, jovens@fulcrum-bioenergy.com and 07399 472 650. Essar owned 33% stake in the consolidated entity. 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. He has over 25 years of work experience in the field of M&A and Transactions. Scrap prices were volatile and had to be purchased with precious foreign exchange. She has earlier worked with Cipla as Head HR International Business, and has also volunteered with the Akanksha Foundation. 4900 Hopyard Road . Our ambition is to become a leading low carbon refinery. All companies under the TTP have been given until January 2022 to meet their commitments. Rahul Taneja is the Managing Director, Human Capital at Essar Capital. 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. In order to improve the efficiency, Essar Steel bought Stemcors 51 percent stake in HyGrade Pellets Limited, the pellet making venture of Essar. He is responsible for capital raising, financial performance improvement, risk monitoring and corporate banking for Infrastructure. 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. 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.. 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 replaced Swiss PTT with Hutchison as partner. He is a part of the Management Committee of Essar Capital. 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. . 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. Tempe, Arizona white page directory listings include full name, phone number and address. His academic research paper on Sustainability and Renewable Consumption Obligation has been presented at forums of international repute. Until the mid-1980s, Essar was focused on the service sectors of construction and shipping, which were prone to cyclical volatility. Kailash Daultani currently serves as the Managing Director, Treasury and Finance, at Essar Capital. Gifts and Donations to: ASU Foundation Attn:Financial Services P.O. With over 30 years of experience in operational leadership, investment management and business growth across diverse sectors, Srinivasan provides critical evaluation on current and future capital investments. 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. Worse was to follow. 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. Maharashtra, India, Copyright 2021 All rights reserved CH65 4BD, United Kingdom, UKs Largest He started his career with Escorts Limited where he worked and grew through various roles of operations and business development. Sale to Brookfield Asset Management Company, 10 MTPA integrated steel manufacturing complex. Essar Ports is both a people-driven and people-centric organisation. Srinivasan Vaidyanathan is the Operating Partner, Technology & Retail, at Essar Capital. 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. 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. When the power sector was opened up for private participation, Essar was one of the first companies to enter the fray. In addition to outside contracts, it executed all of Essars internal projects. 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. Suite 220 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. The experience in contract drilling prompted the Group to venture into the upstream in the Oil sectori.e. Essar Energy enters into agreement to buy Royal Dutch Shell's Stanlow refinery for US$350 million. Contact ; Transforming Logistics; New Offerings; Ports & Terminals. 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). Box 2260 Tempe, Arizona 85280-2260 For all other mailing needs: ASU Foundation P.O. He has led natural resources sector businesses for major investment banks globally. This was not sufficient for the business to achieve and sustain long-term growth. Top-lines crashed, while interest rates were at their highest ever (Prime Lending Rates had touched 17 percent). But the Sunday Times reported that the government was on alert in case Stanlow collapsed, and that it could go into insolvency if it could not raise more funds. 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 companies and supermarkets, Manchester Airport, leading commercial airlines and the regions trains and buses. Investing in an end-to-end logistics infrastructure. 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. Doaa AboulThomas AbbottSusan AdamsEmilio AbundioBorzu AfshariRay AdamsAnn Addington, Mesa, AZPhoenix, AZChandler, AZScottsdale, AZGilbert, AZ. Essar Capital Limited (Essar Capital) is the investment manager of Essar Global Fund Limited (EGFL). Having started his career with HPCL, he worked with National Oil Nigeria, Reliance Industries Ltd., TotalFinaELF and Gulf Oil India. Kingsbury Diesel 121.92 ppl, PU10 114.84 ppl. Previously Group Director at Gulf Petrochem, he is an oil and gas professional with around 35 years of experience in sales, marketing and trading of petroleum products in India, the Middle East and Nigeria with Public Sector Undertakings, Multi-National Companies and private sector companies. As part of the backward integration, a 4 MTPA pellet plant was set up in Visakhapatnam; forward integration was achieved with a 2 MTPA steel plant. Managing Director, Finance, Infra, Tech & Retail, at Essar Capital. India Salaya Vizag Stanlow. Your price for Delivered in supplies will be subject to delivery costs. India Salaya Vizag Stanlow. 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. 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. He is a seasoned professional with over 27 years of experience, including 23 years in international investment banking & private equity. Prashant is part of the second generation of the Ruia family that founded Essar. Run a search by name for anyone in Tempe, Arizona & get free white pages information instantly. He is responsible for capital raising, financial performance improvement, risk monitoring and corporate banking. 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 is already making rapid progress against its broader decarbonisation targets. 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. 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. In the early 1980s, when the government opened up the ownership and operation of Offshore Supply Vessels (OSV) to private Indian companies, Essar was one of the first to enter the fray. Mr Sogani, who was the Group CFO of Jindal Steel & Power Limited, has over 25 years of experience specialising in areas of business and financial management with special focus on strategy, M&A, business/corporate development, business restructuring, corporate finance, capital markets, investor relationship, governance and operations. 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. 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. The Fair Credit Reporting Act ("FCRA") is a federal law that promotes the accuracy, fairness and privacy of information in the files of consumer reporting agencies. Essar had financed the project through a combination of rupee debt and Floating Rate Notes (FRN)both on a five-year tenure. 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. The UK's 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. Stanlow Terminals Limited Stanlow Manufacturing Complex, Ellesmere Port, Cheshire, CH65 4BD United Kingdom . Choose Additional Cities in Arizona by Selecting the First Letter of the City. Plant owner Essar is also investing in a . The gas will be permanently sequestered into depleted gas fields under the sea in Liverpool Bay, as part of the HyNet cluster infrastructure in the North West of England. The construction and shipping businesses grew rapidly and Essar gradually established itself as a leading marine and industrial construction company. Crude oil is supplied to the refinery via a 15 mile pipeline from the companys Tranmere facility further downstream in the Mersey Estuary. He is a strong business development professional with a Mechanical Engineering Degree from Aligarh Muslim University. 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. Deepak Maheshwari, CEO of Essar Oil UK said: This new carbon capture plant is the single biggest initiative to decarbonise our processes and a core element to our hugely ambitious decarbonisation strategy. Essar Oil UK bought the Stanlow refinery at Ellesmere Port from Shell in 2011. 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. Essar Oil UK is committed to helping drive the UK's decarbonisation strategy. 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. Sale included 20 MTPA refinery, retail, port and related infrastructure. Our sights are firmly set on helping to drive the UK's decarbonisation strategy. This is equivalent to the domestic heating energy used by a major British city region, such as Liverpool. 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. Located near Ellesmere Port in north west England, the Stanlow refinery is the second largest in the UK. Prior to Essar, he was the CEO & Executive Director of Hero Future Energies Pvt Ltd. 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. All Rights Reserved. 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 Group is to invest $3.6bn developing low-carbon energy in the UK and India under the newly formed Essar Energy Transition (EET). Updated: 27 Jan 2022, 06:04 AM IST Subhash Narayan The UK's first low carbon hydrogen facility at Essar Stanlow will sit at the heart. He would be responsible for advising and leading the company with regards all investments and opportunities in the metals & mining sector. 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. He joined Essar as CEO Retail in the year 2010. In addition, Fulcrum NorthPoint was awarded a grant by the UK Government Department for Transport. Work on the refinery began in 1994, and by 1995, the necessary funding was in place. 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 Constructions grew its activities considerably over the years. 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. He holds a BA (Hons) in Economics and a Masters in Investment and Finance. This debt was refinanced later when the government set up the Power Finance Corporation. 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 He is responsible to advise and represent the company for all the legal matters concerning the Energy sector investments and portfolio businesses. This will be the first Fulcrum plant outside the United States. 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. He is on the Boards of World Steel Association, and the Metals & Mining and Energy industry Committee of the World Economic Forum. 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. 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. 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. Since Essar did not have prior experience in this industry, it roped in Swiss PTT as a joint venture partner. He was chairman and chief executive of J&K Bank for five years. Prior to joining Essar Capital, he lead several reputed public sector and private steel companies, including Steel Authority of India Limited and Rashtriya Ispat Nigam Limited as their Chairman and Managing Director.
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