Mr Sogani helps manage Essar Capital investments in the portfolio companies of metals & mining sector. The funds from the sale of the tankers were used to buy two very large crude carriers (VLCC) of modern vintage and three Cape-size vessels. 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. Within 18 months after work resumed, Essar began commissioning the refinery in phases. Production started in November 2006 with a capacity of 7.5 MTPA. He has overseen Essars BPO and Power businesses, Smiti is a self-driven business leader and a true entrepreneur at heart. 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. He Joined Essar in 1997 as COO in Essar Telecom and was the Executive Director of Essar Shipping Limited from 1998-2002. Essar has invested in a portfolio of world-class companies across sectors and geographies. A slew of projects in each of these businesses were initiated in the 1990s when the Indian economy was booming. The commissioning was completed in October 1997. With more than 50 years of experience, he guides Essar through transformations, manages operating functions and leads complex projects. It invested in relevant logistics assets. Similarly, Essar Bulk Terminal was set up to create bulk terminal facilities at Hazira and other ports. [1] www.essaroil.co.uk/news/uks-first-refinery-based-hydrogen-furnace-arrives-at-essar/. 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. 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. 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. 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. Essar had financed the project through a combination of rupee debt and Floating Rate Notes (FRN)both on a five-year tenure. . As Fulcrum's first facility in the United Kingdom, NorthPoint will be located at the Essar Stanlow Manufacturing Complex in Ellesmere Port, Cheshire. Currently, he heads the country operations of Afrocentric Group in Mauritius and is the Managing Director of Medscheme International. Essar Constructions executed pipe laying contracts for all the major oil companies in India, and drinking water pipelines in Gujarat, Tamilnadu and Rajasthan. 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. 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. His academic research paper on Sustainability and Renewable Consumption Obligation has been presented at forums of international repute. 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. This led to financial sanctions being imposed on India and Indian companies no longer had access to foreign funds. 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. 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. 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. Essar Site. 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. Such emission reductions are approximately 70% and have the future potential to be fully carbon neutral. Essar had contracts with Chevron, Exxon-Mobil, Stat Oil, Shell, etc. 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. Essar Oil UK is committed to helping drive the UK's decarbonisation strategy. In 2006, Hutchison, too, decided to exit India. Mr Naushad Ansari is Managing Director, Business Development, at Essar Capital. Legal Disclaimer and Terms and Conditions of Usage, This website uses cookies or similar technologies, to enhance your browsing experience and provide personalized recommendations. He is a part of the Management Committee of Essar Capital. Ravi Ruia belongs to the generation of industrialists who have played a significant role in leading Indias industrial renaissance. He has led natural resources sector businesses for major investment banks globally. 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. Until then, only foreign construction companies would undertake a project of this magnitude and complexity. Try LightSource for your strategic sourcing. This prompted Essar to start manufacturing sponge iron. This will be the first Fulcrum plant outside the United States. Mr Mehra is involved in various Essar initiatives in areas of Business Strategy, Investments, Corporate Governance, Risk Management and Sustainability. 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. 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. Essar saw a great opportunity and bought Indias first private tanker in 1976 for around USD 2 million. Essar Oil (UK) Limited 2021. 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 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. The ambitious plan sets firm foundations to accelerate the UK's path to net zero while transforming the economy, boosting employment and delivering growth. Haseeb Drabu is an economist with over 30 years of experience with diverse skill-sets and wide-ranging experience as a lawmaker, policy planner, banker and an economic commentator. Scrap prices were volatile and had to be purchased with precious foreign exchange. 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. 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. 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. Contact ; Transforming Logistics; New Offerings; Ports & Terminals. Fulcrum BioEnergy, Limited is a wholly owned subsidiary of Fulcrum BioEnergy, Inc., a pioneer in the development of projects to convert everyday household and commercial waste into low-carbon aviation fuels and other transportation fuels. Essar continues to be the largest Indian exporter of flat steel. The construction of two blue hydrogen production hubs at Stanlow will attract 750 million pounds ($1 Billion) in total investment and support a hydrogen economy across North West England and North East Wales. At that price, steel plant operations were simply unsustainable. Prior to joining Essar, he has worked with Caf Coffee Day and UB Spirits. 20 August 2011. After achieving success and recognition in India, the Company was now poised to venture overseas. Stanlow is connected to the rest of the UK by an extensive road network, focused on the M62, M60, M56, M53, A66, A69 East-West corridors and the South and Transpennine routes. 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. 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. Stanlow Diesel 121.87 ppl, PU10 114.81 ppl. In early 2005, Essar restructured the balance sheet and work resumed with renewed vigor on completing the refinery project. epl.secretarial . 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. EGFL is now poised to transition its existing assets towards a greener economy and invest in businesses which will transform sector landscapes from carbon to a clean energy ecosystem. He is responsible for all HR matters for the Metals & Mining and Services & Technology portfolios. 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). Additionally, he has held leadership positions at IAA Healthcare, Metropolitan Insurance, CIM Global Business, CIM Asset Management, Ireland Blyth Limited and HSBC respectively. 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. Subsequent to the HyGrade takeover, the pellet making capacity was enhanced to 8 MTPA. Correspondence address The Administration Building, 5th Floor, Stanlow Manufacturing Complex, Ellesmere Port, Cheshire, CH65 4HB . Tempe, Arizona white page directory listings include full name, phone number and address. Sale to Brookfield Asset Management Company, 10 MTPA integrated steel manufacturing complex. Essar Global Fund invests, builds and nurtures a portfolio of world-class companies through Essar Capital, its investment manager. 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. Sale included 20 MTPA refinery, retail, port and related infrastructure. This innovative bio-refinery will convert several hundred thousand tonnes of pre-processed waste, which would have otherwise been destined for incineration or landfill, into approximately 100 million litres of low carbon SAF annually. In this way, the share of value-added products increased from 35 percent to 70 percent of total production. It owned 11 land rigs, one offshore rig and a drill ship. Six business areas in the core sectorConstruction, Shipping, Steel, Power, Oil & Gas, and Telecommunicationswere identified as growth drivers for the Group. Mumbai - 400034 Mr Deepak Sogani joined ESSAR in August 2020 as Managing Director Finance, Essar Capital, the investment manager for Essar Global Fund Limited (EGFL). Thus Essar was able to build one of the most valuable telecom companies in the world. Our latest List Price, effective from 2nd March, for Ex Rack sales is as follows. Essar again grabbed the opportunity and went on to become Indias largest rig operator in the private sector. Essar braced itself for the oncoming challenge. He is responsible for investigation, analysis and assessment of risk, and accordingly design and implement strategies and processes which mitigate these threats. School of Social Transformation. Low carbon hydrogen will be produced at the Stanlow Manufacturing Complex located in Ellesmere Port, Cheshire. . 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. The Fulcrum venture will complement Essar's wider plans to build a green energy industrial cluster at the Stanlow site. He was appointed as MD & CEO of Essar Shipping, Ports & Logistics Limited in 2010. Copyright 2023 Essar. He was chairman and chief executive of J&K Bank for five years. M: +44 (0)7805 854 169 E: ian.cotton@essaroil.co.uk . All Rights Reserved. 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. Plant owner. Delivering cleaner/greener energy solutions, Localise the supply chains for the industry, Create logistics network, storage solutions and platforms by leveraging technology, To be the trusted go to technology solution integrator, https://www.essar.com/wp-content/uploads/2021/09/Essar_Corporate_Film.mp4, Provide new environmentally beneficial source of energy in India, Transform Essar Oil UK to become a global benchmark for green refineries, Build a hub for the UKs upcoming hydrogen transformation, Build an energy compliant state-of-the-art steel plant, Provide the lowest cost high grade green iron ore pellet in the United States and India, Enable trade and transport services across the industrial hubs in the west and east coasts of India, Create the largest independent hydrocarbon terminals business in North-West Europe, To architect, deploy, manage and secure the customers IT environment through customised solutions, To integrate intelligent digital networks and platforms, Implementing and managing investments and divestments, Preparing and delivering financial reports of EGFL, Implementing and overseeing appropriate policies and procedures, 1995 First Mover partnership with Hutchison Whampoa and then with Vodafone, Part Sale of Aegis USA Inc. to Teleperformance at $610 million, Sale of 98% stake in Essar Oil to Roseneft, and Trafigura-led consortium. Today, the Hazira power plant has two power purchase agreementsone with the Gujarat State Electricity Board and the second with Essar Steel. Essar is building assets & creating value in new promising markets right from services to retail in India and internationally. As the world comes together to develop innovative ways of generating sustainable energy the supporting storage and transportation infrastructure needs to evolve. The experience in contract drilling prompted the Group to venture into the upstream in the Oil sectori.e. His strength lies in leading new business development opportunities and conducting preliminary due diligence and analysis of emergent companies and partners. Prior to being the Managing Director at Essar Capital, Rakesh has been at leadership positions in Essar Ports. Mr Rajiv Gujjalu serves as Director Essar Global Fund Limited (EGFL). Essar Shipping diversified and modernised its fleet in the early 1990s. Crude oil is supplied to the refinery via a 15 mile pipeline from the companys Tranmere facility further downstream in the Mersey Estuary. 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. The green energy projects will include an investment of $1.2 billion in green ammonia manufacturing in India. Vikash Saraf is the non-executive director of Essar Capital. Managing Director, Finance, Infrastructure, Technology & Retail, Managing Director, Business Development, Metals & Mining, Download Corporate Film(Extended Version). Vice Chairman & Operating Partner, Metals & Mining, Operating Parter, Infrastructure, MD & CEO, Essar Ports, Sr. He established PetroFina in India and was part of the team that launched Gulf Oil in India post opening up of the market. Ellesmere Port, Cheshire, In 2005, when the vessel rates peaked, Essar sold its five Suezmax tankers at the price at which they were bought in 1994. 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. If you would like a quote for delivery . All Rights Reserved.
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