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. The company's spirited involvement in community service . 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. 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. He is responsible for capital raising, financial performance improvement, risk monitoring and corporate banking for Infrastructure. They primarily export from United States with 17 shipments . 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. During the period of stoppage, Essar had wisely planned for technology upgrades. In early 2005, Essar restructured the balance sheet and work resumed with renewed vigor on completing the refinery project. Additionally, he is also a member of the India-Indonesia CEOs Forum. Low carbon hydrogen will be produced at the Stanlow Manufacturing Complex located in Ellesmere Port, Cheshire. 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. This debt was refinanced later when the government set up the Power Finance Corporation. . Mr Mehra is involved in various Essar initiatives in areas of Business Strategy, Investments, Corporate Governance, Risk Management and Sustainability. Essar negotiated with the FRN holders for a one-time settlement and refinanced its entire rupee debt at a lower cost. Being one of the low-cost steel producers, Essar managed to make operating profits. Run a search by name for anyone in Tempe, Arizona & get free white pages information instantly. Priya Chakravarty is the Senior Director, HR, at Essar Capital. The takeover of SCGL has enabled Essar to widen its product base and cater to a larger segment of industries. His entrepreneurial abilities have enabled the Essar Global portfolio of companies to become one of the leading names in global industry. 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. 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. Following this maiden contract, Essar bagged projects at every major port in the country, including Tuticorin, Mangalore, Goa, Kakinada and Nhava-Sheva in Mumbai. Pleasanton, CA 94588. Sale included 20 MTPA refinery, retail, port and related infrastructure. 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. 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. Essar Stanlow's top supplier is Refined Technologies with 17 shipments. Stanlow Manufacturing Complex, 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. A general view of Essar Oil UK's Stanlow oil refinery near Ellesmere Port, Britain, September 27, 2021. Hutchison Essars subscriber base, too, has risen from 1,50,000 to 28 million. Along with brother Ravi, Shashi Ruia laid the foundation of Essar and spearheaded its business strategy, diversification and growth. Sunil is also the President of Wind Independent Power Producers Association. Michelle Lewis, Corporate Affairs Director, Essar: michelle.lewis@essaroil.co.uk / 07805 854169, Peter Ogden, Powerscourt: essar@powerscourt-group.com / 07793 858 211. The 1980s: Supporting Indias nascent exploration sector. However, Swiss PTT wanted to shut shop as part of its strategy to exit all Asian operations. 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. It had a fleet of over 100 vehicles of varying capacities. All Rights Reserved. Mr Deepak Sogani joined ESSAR in August 2020 as Managing Director Finance, Essar Capital, the investment manager for Essar Global Fund Limited (EGFL). Bespoke sustainable solutions to suit logistics and supply chain requirements. The FRNs were due for refinancing in 1999, the year that marked the end of the five-year term. Six business areas in the core sectorConstruction, Shipping, Steel, Power, Oil & Gas, and Telecommunicationswere identified as growth drivers for the Group. 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. 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. EOUK had agreed to an accelerated schedule to make this payment. Object reference not set to an instance of an object. Srinivasan Vaidyanathan is the Operating Partner, Technology & Retail, at Essar Capital. 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. As a result of that work over the past few months, EOUK has $1.1bn [800m] in liquidity secured. Steel: The uncertainties of a cyclical business. Essar Oil UK Contact us Contact us How can we help you? 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. When commercial production began in 1996, this had fallen to USD 380 per tonne. The promoters could foresee the demand, a vision that paid rich dividends. Essar Global Fund invests, builds and nurtures a portfolio of world-class companies through Essar Capital, its investment manager. 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. All these activities were consolidated under Essar Shipping and Logistics Limited. 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. Being the largest independent means we can move quickly to meet your bulk liquid storage needs, Unique Refinery Access Now, Essar is all set to team up with the new JV partner Vodafone to take growth to the next level. This led to financial sanctions being imposed on India and Indian companies no longer had access to foreign funds. REUTERS/Phil Noble LONDON, Nov 30 (Reuters) - Essar Oil UK said on Wednesday it planned. In the second quarter, a devastating cyclone hit the western coast of India damaging several structures in the refinery site. After achieving success and recognition in India, the Company was now poised to venture overseas. 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. 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. However, Essars chosen policy was to get into areas of import substitution, high technology and national importance. Vertex is developing the first large scale, low carbon hydrogen production hub in the UK, as part of the HyNet cluster (www.hynet.co.uk). as panic buying hits forecourts across the country. Together, these initiatives will help diversify the refinery in a greener direction, and help achieve the UK's decarbonisation goals. 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. Vertex Hydrogen is a joint venture between Essar Oil UK and Progressive Energy. Mahalaxmi, 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. He is the former Chairman and Managing Director of state-run natural gas giant GAIL India Ltd and had started his career in Oil and Natural Gas Corporation. 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. He has also advised boards and management on major transactions in 34 countries. 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. 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. Essar saw a great opportunity and bought Indias first private tanker in 1976 for around USD 2 million. The project, which will see an investment of approximately 600m, will use Fulcrum's proven waste-to-fuel process, which is already being deployed at its pioneering facility outside of Reno, Nevada in the United States, where operations are due to begin later this year. Essar owned 33% stake in the consolidated entity. The steel generation capacity at the Hazira plant was raised from 2 MTPA to 2.4 MTPA through de-bottlenecking. 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. With over 32 years of work experience in the technological sector, Alok leads all new capital investment recommendations to the companys board. exploration & productionand downstream, into refining. 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. Ensuring your bulk liquid products reach their destinations with ease. Just before the issue was launched, India tested the nuclear bomb at Pokhran. Once complete in 2027, the plant will eliminate an estimated 0.81 million tons of CO2 per year the equivalent of taking 400,000 cars off the road, eliminating nearly 40% of all Stanlow emissions. He is responsible for investigation, analysis and assessment of risk, and accordingly design and implement strategies and processes which mitigate these threats. The construction and shipping businesses grew rapidly and Essar gradually established itself as a leading marine and industrial construction company. Sr. All companies under the TTP have been given until January 2022 to meet their commitments. 20 August 2011. Further, the company has now returned to Ebitda positive [earnings before interest, taxes, depreciation, and amortisation] and is therefore in a much stronger position to weather the continued challenge presented by the pandemic, it said. The project has been selected by BEIS as a Phase-2 winner in the CCUS cluster sequencing process earlier this summer, and as such, is currently progressing through the due diligence stage. 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. Prior to being the Managing Director at Essar Capital, Rakesh has been at leadership positions in Essar Ports. Sunil Jain is the Operating Partner for Energy transitions. He has a strong professional record in streamlining litigation, M&A, turnkey contract management, IPR, project financing, international arbitration and compliance support. Plant owner Essar is also investing in a . If approved, construction work is scheduled to begin on site by the end of 2022, with hydrogen production set to commence by the mid-2020s. Acting as director of several client companies, Rajiv is a Fellow member of the Mauritius Institute of Directors since 2012. Stanlow Terminals Limited Essar Oil UK is committed to helping drive the UK's decarbonisation strategy. 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). Physical location: 777 Novus, Suite 310AA, Tempe, AZ 85287-4308 Building: Novus Tower, Tempe Campus Mailing address: P.O. Essar JV to build UK's largest hydrogen hub 2 min read . Essar Energy, which owns the Stanlow. With more than 50 years of experience, he guides Essar through transformations, manages operating functions and leads complex projects. He was the Chief Executive Officer and Board Member at Essar Oil UK Limited. Email address: SSTAdvising@asu.edu / SSTGradAdvising@asu.edu Phone: 480-965-7682 Location: Advising offices are located in 777 Novus, Suite . 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. Hazira was also the land fall point for gas from the Bassein gas field in Bombay High. Badrinath Durvasula joined Essar as the Managing Director, Legal, and oversees and advises the legal function for the Energy, Services & Technology sectors. Worse was to follow. Currently, he heads the country operations of Afrocentric Group in Mauritius and is the Managing Director of Medscheme International. Essar Constructions grew its activities considerably over the years. Within 18 months after work resumed, Essar began commissioning the refinery in phases. 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. Firdose has extensive experience in emerging markets, having been involved in advising governments, parastatals and companies in Africa, India, Europe and the Middle East. In 2005, when the vessel rates peaked, Essar sold its five Suezmax tankers at the price at which they were bought in 1994. 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. 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 began the process of refinancing one year in advance, in May 1998. 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. But this was not sufficient to meet its debt obligations. Box 874308 Main phone: 480-965-7682 Fax: 480-965-9199 Undergraduate & Graduate Advising. 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. This brought down the capital cost per tonne of steel, which helped reduce overall cost of production. With over 15 years of experience in diverse fields including media & publishing, corporate communications. 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. Regular ferry services connect Stanlow from Liverpool and Holyhead to Ireland, Isle of Man, Northern Ireland and northern Spain. Rajiv Agarwal is the Operating Partner, Infrastructure, at Essar Capital and Managing Director, Essar Ports.He has over 30 years of experience and has held leadership positions in sectors such as Ports, Shipping, Telecom, Retail and Business Processing Outsourcing. All Rights Reserved. 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. The project was funded by Indian financial institutions and the ECB. Prashant is part of the second generation of the Ruia family that founded Essar. Intelius does not provide consumer reports and is not a consumer reporting agency as defined by the FCRA. It still owes 223m, and was reportedly due to start repayments this week. 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 held key leadership positions at Jindal Steel & Power Ltd, Jet Airways, Essar and Dell international. Rahul Taneja is the Managing Director, Human Capital at Essar Capital. Tempe, Arizona white page directory listings include full name, phone number and address. 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. This has improved the quality of the ore and reduced the transportation cost. Essar continues to be the largest Indian exporter of flat steel. Fulcrum is actively developing Fulcrum NorthPoint at the Essar Stanlow Manufacturing Complex in Cheshire, in the North West of England. 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 was the CEO & Executive Director of Hero Future Energies Pvt Ltd. He is on the Boards of World Steel Association, and the Metals & Mining and Energy industry Committee of the World Economic Forum. It invested in relevant logistics assets. His experience spans several sectors including mining and natural resources, telecommunications, business process outsourcing, infrastructure, healthcare and manufacturing. Mumbai Essar Essar House 11, Keshavrao Khadye Marg Mahalaxmi Mumbai 400 034 Maharashtra, India Tel. 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. He has held several leadership positions at Adani Group, Larson & Toubro Ltd, Binani Industries Ltd. amongst others. 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. 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. Role Active Director Date of birth July 1961 Essar is investing to make our refinery at Stanlow, the UKs first low carbon refinery. The company began its operations with the construction of an outer breakwater in Chennai port, an order worth Rs 2.5 crore. 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. Media contact. 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. In addition to OSVs, it bought Diving Support Vessels and Multi Support Vessels. 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. Managing Director, Finance, Infrastructure, Technology & Retail, Managing Director, Business Development, Metals & Mining, Download Corporate Film(Extended Version). 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). Andrew Wright is the Managing Director, Legal, at Essar Capital. His academic research paper on Sustainability and Renewable Consumption Obligation has been presented at forums of international repute. He is responsible for all HR matters for the Metals & Mining and Services & Technology portfolios. By 2030, Vertex expects to deliver nearly 4GW of low carbon hydrogen, equivalent to c.40% of the UK Governments national target. Mumbai - 400034 Essar and the + device are registered trademarks of the Rising Groups Limited, an Essar Group company. Essar Capital Limited (Essar Capital) is the investment manager of Essar Global Fund Limited (EGFL). Earlier on he has worked with TCS in the beginning of his career. Stanlow Terminals Limited Stanlow Manufacturing Complex, Ellesmere Port, Cheshire, CH65 4BD United Kingdom . Stanlow also plays an important part in Britains petrochemical industry, providing feedstocks such as toluene, propylene and ethylbenzene. 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. Legal Disclaimer and Terms and Conditions of Usage, This website uses cookies or similar technologies, to enhance your browsing experience and provide personalized recommendations. Having started his career with HPCL, he worked with National Oil Nigeria, Reliance Industries Ltd., TotalFinaELF and Gulf Oil India. In 1999, the government announced a new telecom policy that was more conducive to growth. 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. She has more than 23 years of experience in Human Resources, having worked across industries like Manufacturing, Pharma, IT and Retail.
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