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. 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. Work on the refinery began in 1994, and by 1995, the necessary funding was in place. Mr Viral Gathani is the Managing Director, Finance, Energy, at Essar Capital. 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. The only alternative to scrap was sponge iron, but there were no sponge iron manufacturers on the west coast of India despite a large number of users. Shashi Ruia began his career in the family business in 1965 under the guidance of his father, the late Nand Kishore Ruia. He holds a BA (Hons) in Economics and a Masters in Investment and Finance. 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 . Email. 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. 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. A fleet of 13 onshore rigs and a semi-submersible rig were deployed with clients in India and abroad. Essar saw a great opportunity and bought Indias first private tanker in 1976 for around USD 2 million. Essar also entered the power and telecom sectors as and when they were opened up to private participation. 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. Prashant is part of the second generation of the Ruia family that founded Essar. 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. 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. Essar Stanlow's top supplier is Refined Technologies with 17 shipments. Essar Oil UK Contact us Contact us How can we help you? Retrieved 30 March 2012. 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. The joint venture company then went about consolidating operations and acquiring various telecom circles. It invested in relevant logistics assets. With over 32 years of work experience in the technological sector, Alok leads all new capital investment recommendations to the companys board. 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. Essar had contracts with Chevron, Exxon-Mobil, Stat Oil, Shell, etc. Plant owner. 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. Having started his career with HPCL, he worked with National Oil Nigeria, Reliance Industries Ltd., TotalFinaELF and Gulf Oil India. In this business, too, Essar kept refinancing the debt to reduce finance costs. After achieving success and recognition in India, the Company was now poised to venture overseas. Managing Director, Finance, Metals & Mining. Essar Group is to invest $3.6bn developing low-carbon energy in the UK and India under the newly formed Essar Energy Transition (EET). There was an FCCB (Foreign Currency Convertible Bonds) component that needed to be raised abroad in the latter half of 1998. 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. His entrepreneurial abilities have enabled the Essar Global portfolio of companies to become one of the leading names in global industry. Unite general secretary Sharon Graham said: "Unite has contacted Essar who operate the Stanlow Oil Refinery to inform the company that due to the ongoing conflict in Ukraine, Unite workers at . Sale to Brookfield Asset Management Company, 10 MTPA integrated steel manufacturing complex. exploration & productionand downstream, into refining. Legal Disclaimer and Terms and Conditions of Usage, This website uses cookies or similar technologies, to enhance your browsing experience and provide personalized recommendations. Being one of the low-cost steel producers, Essar managed to make operating profits. 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 was founded in 1969 by his father, Shashi Ruia and uncle Ravi Ruia. Were primed to lead the national charge in the development of changing energy infrastructure and create the UKs first sustainable energy hub. 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. Until the mid-1980s, Essar was focused on the service sectors of construction and shipping, which were prone to cyclical volatility. By continuing to use our website, you agree to our Privacy Policy Accept, Dedicated marine import capability to tankage. He joined Essar in early 2000 and has played a key role on strategic investments of Essar in core economy and infrastructure sectors. Object reference not set to an instance of an object. 2023 PeopleConnect, Inc. d/b/a Addresses.com. When Essar conceived the project, international steel prices were in the region of USD 450 per tonne. The Late 1980s: Foray into core sector manufacturing. Essar Logistics took care of the movement of cargo, generated by Essar Steel and Essar Oil, by road. 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. So Essar set up steel manufacturing facilities at Hazira with the objective of gaining value addition. He started his career with Escorts Limited where he worked and grew through various roles of operations and business development. 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. In order to lend stability to the Group, Essar planned to enter manufacturing. He also has rich experience in leading change management, cultural transformation, organisational redesign and restructuring. 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. Prior to Essar, he was the CEO & Executive Director of Hero Future Energies Pvt Ltd. It vigorously worked towards restructuring its balance sheet, drawing up a three-pronged strategy to address . 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. Prior to joining Essar, he was associated with EY as a Partner for 11 years. 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. The green energy projects will include an investment of $1.2 billion in green ammonia manufacturing in India. Correspondence address Essar Oil (uk) Limited, Lansdowne House - 2nd Floor East, Berkeley Square, London, England, W1J 6ER . 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. The company received underwriting commitments from Chase and Lehman Brothers. An MBA from IIM Lucknow, Rakesh is a qualified Engineer from NIT, and brings with him 13 years of experience. Our sights are firmly set on helping to drive the UK's decarbonisation strategy. By 2006, all the circles were under one umbrellaHutchison Essar Limited. 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 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). Until then, only foreign construction companies would undertake a project of this magnitude and complexity. He is on the Boards of World Steel Association, and the Metals & Mining and Energy industry Committee of the World Economic Forum. Again, breaking the tradition of locating manufacturing facilities close to the mines, the Company chose to build the plant at Hazira, a port on the west coast of India. Sr. Suite 220 He is a strong business development professional with a Mechanical Engineering Degree from Aligarh Muslim University. Firdose Coovadia is an Advisor, Metals & Mining, at Essar Capital. Essar owned 33% stake in the consolidated entity. Essar had financed the project through a combination of rupee debt and Floating Rate Notes (FRN)both on a five-year tenure. Doaa AboulThomas AbbottSusan AdamsEmilio AbundioBorzu AfshariRay AdamsAnn Addington, Mesa, AZPhoenix, AZChandler, AZScottsdale, AZGilbert, AZ. He is responsible for capital raising, financial performance improvement, risk monitoring and corporate banking for Infrastructure. Dhanpat Nahata is the General Partner, Strategy and Risk, at Essar Capital. Box 2260 Tempe, Arizona 85280-2260 For all other mailing needs: ASU Foundation P.O. 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. His academic research paper on Sustainability and Renewable Consumption Obligation has been presented at forums of international repute. Our ambition is to become a leading 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. With 18 years of experience, he has also served as the Senior Vice President, International Projects and Corporate Finance, with Essar Services. Purchasing and Supplier Management (PSM) enquiry, 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. Essar is already making rapid progress against its broader decarbonisation targets. Unite said it had informed the owner of the Ellesmere refinery, India's Essar Group, that its members . Additionally, he has held leadership positions at IAA Healthcare, Metropolitan Insurance, CIM Global Business, CIM Asset Management, Ireland Blyth Limited and HSBC respectively. Located near Ellesmere Port in north west England, the Stanlow refinery is the second largest in the UK. 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. 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. Essar Oil UK, which operates Stanlow Refinery, and Fulcrum BioEnergy, based in California, US, have teamed up with Stanlow Terminals to develop the . He brings with him 39 years of experience, and has extensive experience in the renewable energy sector.