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. 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. Managing Director, Finance, Metals & Mining. 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. 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. Dhanpat Nahata is the General Partner, Strategy and Risk, at Essar Capital. Along with brother Ravi, Shashi Ruia laid the foundation of Essar and spearheaded its business strategy, diversification and growth. 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. 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. 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. 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. Last month Essar Oil UK announced its participation in the production of blue hydrogen under the HyNet project. Around the mid-1980s, the Government also opened up the contract drilling business to Indian private companies. 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. With over 15 years of experience in diverse fields including media & publishing, corporate communications. 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. You may not use any information obtained from Intelius for any purpose covered by the FCRA. 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. Essar Energy. He also has rich experience in leading change management, cultural transformation, organisational redesign and restructuring. 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. Our latest List Price, effective from 2nd March, for Ex Rack sales is as follows. 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. 20 August 2011. Having completed his law degree from the University of Leeds, United Kingdom, Andrew has over 25 years of rich experience. 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. Doaa AboulThomas AbbottSusan AdamsEmilio AbundioBorzu AfshariRay AdamsAnn Addington, Mesa, AZPhoenix, AZChandler, AZScottsdale, AZGilbert, AZ. Prior to Essar, he has worked with Archean Group as Group President, and with SIVA group as CEO for about 15 years. Prior to being the Managing Director at Essar Capital, Rakesh has been at leadership positions in Essar Ports. The hydrogen will be used to help decarbonise Essars existing production facilities including the new hydrogen powered furnace [1]which was delivered in August this year. 11, K.K. The energy industry is changing. 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. 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. 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. It that happened, the refinery would be likely to be taken on by the official receiver, to keep the refinery running. Run a search by name for anyone in Tempe, Arizona & get free white pages information instantly. Bespoke sustainable solutions to suit logistics and supply chain requirements. In 1999, the government announced a new telecom policy that was more conducive to growth. 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. He Joined Essar in 1997 as COO in Essar Telecom and was the Executive Director of Essar Shipping Limited from 1998-2002. It monitors and manages the entire portfolio of investments owned by EGFL. Madhu Vuppuluri is the Operating Partner, Metals & Mining, Essar Capital. The FRNs were due for refinancing in 1999, the year that marked the end of the five-year term. Sunil is also the President of Wind Independent Power Producers Association. Mr Rajiv Gujjalu serves as Director Essar Global Fund Limited (EGFL). Top-lines crashed, while interest rates were at their highest ever (Prime Lending Rates had touched 17 percent). Essar Oil UK Contact us Contact us How can we help you? 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. 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. . Essar followed up this success, by setting up a pellet plant in Visakhapatnam as part of its backward integration strategy. It bought six new double-hull double-bottom Suezmax tankers between 1991 and 1994, a time when no shipping companies were investing in such vessels. 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. 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. Pleasanton, CA 94588. Legal Disclaimer and Terms and Conditions of Usage, This website uses cookies or similar technologies, to enhance your browsing experience and provide personalized recommendations. 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. 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. Until the mid-1980s, Essar was focused on the service sectors of construction and shipping, which were prone to cyclical volatility. Today, the Hazira power plant has two power purchase agreementsone with the Gujarat State Electricity Board and the second with Essar Steel. He is on the Boards of World Steel Association, and the Metals & Mining and Energy industry Committee of the World Economic Forum. An offering that prides itself in the highest levels of safety to protect our people, your people and the communities we operate in. Such emission reductions are approximately 70% and have the future potential to be fully carbon neutral. Having started his career with HPCL, he worked with National Oil Nigeria, Reliance Industries Ltd., TotalFinaELF and Gulf Oil India. 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 Group is to invest $3.6bn developing low-carbon energy in the UK and India under the newly formed Essar Energy Transition (EET). As the world comes together to develop innovative ways of generating sustainable energy the supporting storage and transportation infrastructure needs to evolve. The Stanlow oil refinery supplies about a sixth of Britains road fuel, and is owned by the billionaire brothers Shashi and Ravi Ruia, through their company Essar Oil UK. It involved buying an asset against the securitisation of receivables. Around this time, Bombay High had just started producing oil, which needed to be transported onshore. 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. In addition, Essar Oil UK operates an integrated terminal and marine facility at Stanlow and Tranmere on behalf Stanlow Terminals. It vigorously worked towards restructuring its balance sheet, drawing up a three-pronged strategy to address . 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. Run a search by name for anyone in Tempe, Arizona & get free white pages information instantly. He is respected for his project execution skills, financial expertise and people management capabilities. He has led natural resources sector businesses for major investment banks globally. 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. Essar and the + device are registered trademarks of the Rising Groups Limited, an Essar Group company. 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. After a fierce round of bidding that involved several corporations, Vodafone bought the Hutchison stake valued at USD 11.5 billion.

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