With more than 50 years of experience, he guides Essar through transformations, manages operating functions and leads complex projects. He has worked as an Economic Advisor, and the principal economic policy maker at the state level for seven years. It vigorously worked towards restructuring its balance sheet, drawing up a three-pronged strategy to address the issue: Increase capacity, move to value-added segments and bring down finance costs. Since early August, the company has increased its daily vehicle shifts from 52 to more than 70, and is aiming to increase deliveries to more than 80 by the end of October, it said. However, Swiss PTT wanted to shut shop as part of its strategy to exit all Asian operations. 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. Hazira was also the land fall point for gas from the Bassein gas field in Bombay High. He has also advised boards and management on major transactions in 34 countries. Operating Parter, Infrastructure & MD & CEO, Essar Ports. 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. Managing Director, Finance, Infra, Tech & Retail. 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. Both these factors led to a stoppage of work at the refinery, The Mid-2000s: Resurrecting the Essar Oil Refinery. 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. He joined Essar in early 2000 and has played a key role on strategic investments of Essar in core economy and infrastructure sectors. In addition to outside contracts, it executed all of Essars internal projects. 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. Choose Additional Cities in Arizona by Selecting the First Letter of the City. 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 project was funded by Indian financial institutions and the ECB. Essar subsidiary Stanlow Terminals is to provide storage and logistics services for a new 600 million (687.8 million) sustainable aviation fuel (SAF) plant to be built near Ellesmere Port, UK. The company began its operations with the construction of an outer breakwater in Chennai port, an order worth Rs 2.5 crore. 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. Prior to Essar, he was the CEO & Executive Director of Hero Future Energies Pvt Ltd. 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. 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. 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. All companies under the TTP have been given until January 2022 to meet their commitments. Having started his career with HPCL, he worked with National Oil Nigeria, Reliance Industries Ltd., TotalFinaELF and Gulf Oil India. 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. In addition, SAF produced at the site offers a 90% reduction in particulates, which may benefit local air quality in and around airports. Try LightSource for your strategic sourcing. 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. Subsequent to the HyGrade takeover, the pellet making capacity was enhanced to 8 MTPA. Stanlow has a highly efficient distribution capability for refined end products: Essar Oil UK remains the lowest cost supplier into the North West and is highly competitive in supplying adjacent markets. He has held several leadership positions at Adani Group, Larson & Toubro Ltd, Binani Industries Ltd. amongst others. Later, it went on to buy a specialized pipe-laying barge to undertake this kind of activity. Mumbai - 400034
Stanlows reconfigured and optimised single train operation delivers significant upgrading capability and produces an above average proportion of middle distillates, principally diesel and jet fuel, helping to addressthe significant and growing deficit in the UK and Europe. Kailash Daultani currently serves as the Managing Director, Treasury and Finance, at Essar Capital. But this was not sufficient to meet its debt obligations. Anshuman Ruia is known for his financial expertise and project execution skills. . Northampton Diesel 121.98 ppl, PU10 114.89 ppl. He has overseen Essars BPO and Power businesses, Smiti is a self-driven business leader and a true entrepreneur at heart. . Essar is investing over 1 billion into a range of energy efficiency, fuel-switching, and carbon capture initiatives, designed to decarbonise its production processes significantly by 2030 and put Essar at the forefront of the UKs shift to low carbon energy. Ensuring your bulk liquid products reach their destinations with ease. Until then, only foreign construction companies would undertake a project of this magnitude and complexity. 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. School of Social Transformation. What started out with an initial investment of USD 800 million had reached a valuation of USD18.8 billion in just six years. In those early days of the telecom boom in India, effective policies were lacking and private telecom businesses were faced with several problems. Similarly, Essar Bulk Terminal was set up to create bulk terminal facilities at Hazira and other ports. Essar Oil UK (EOUK) used the governments pandemic VAT deferral scheme last year, which allowed businesses to delay tax repayments. Registered office address The Administration Building 5th Floor, Stanlow Manufacturing Complex, Ellesmere Port, Cheshire, CH65 4HB Company status Active Company type Private limited Company. 4900 Hopyard Road Stanlow has 800 employees, and is a key strategic national asset, annually producing over 16% of the UKs road transport fuels, while playing a key role in Britains broader petrochemical industry. Essar Site. Firdose Coovadia is an Advisor, Metals & Mining, at Essar Capital. Earlier on he has worked with TCS in the beginning of his career. So Essar set up steel manufacturing facilities at Hazira with the objective of gaining value addition. The Essar Group was established by Mr. Shashi Ruia and Mr. Ravi Ruia in 1969, in South India. ENERGY Delivering cleaner/greener energy solutions, METALS & MINING Localise the supply chains for the industry, INFRASTRUCTURE & LOGISTICS Create logistics network, storage solutions and platforms by leveraging technology, TECHNOLOGY & RETAIL To be the trusted go to technology solution integrator. Steel: The uncertainties of a cyclical business. In this business, too, Essar kept refinancing the debt to reduce finance costs. 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. Also, the financial sanctions imposed on India subsequent to the Pokhran nuclear test in May 1998 ensured that Essar was banned from raising FCCBs. 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 was not sufficient for the business to achieve and sustain long-term growth. He is respected for his project execution skills, financial expertise and people management capabilities. Not one to lag behind, Essar seized every opportunity that came its way. Run a search by name for anyone in Tempe, Arizona & get free white pages information instantly. 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. 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. Pleasanton, CA 94588. The 1980s: Supporting Indias nascent exploration sector. Essars Indian lenders refused to bail the company out. Our latest List Price, effective from 2nd March, for Ex Rack sales is as follows. Essar and the + device are registered trademarks of the Rising Groups Limited, an Essar Group company. Sr. 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. Essar became the first Indian company to operate in the waters of the Atlantic. 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 Capital Limited (Essar Capital) is the investment manager of Essar Global Fund Limited (EGFL). Production started in November 2006 with a capacity of 7.5 MTPA. It owned 11 land rigs, one offshore rig and a drill ship. Our ambition is to become a leading low carbon refinery. In 2006, Hutchison, too, decided to exit India. This prompted Essar to start manufacturing sponge iron. 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. 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. 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. Madhu Vuppuluri is the Operating Partner, Metals & Mining, Essar Capital. 925.730.0150. Stanlow Terminals Limited
Unlike other fuel technologies currently being considered by industry, the use of SAF does not require changes to aircraft, engines, or airport infrastructure. He has played an integral role in many landmark private equity transactions and has also managed many regional and global private equity funds. Were primed to lead the national charge in the development of changing energy infrastructure and create the UKs first sustainable energy hub. He Joined Essar in 1997 as COO in Essar Telecom and was the Executive Director of Essar Shipping Limited from 1998-2002. Fulcrum NorthPoint is expected to begin commercial production in the first quarter of 2027, producing approximately 100 million liters of low carbon sustainable aviation fuel each year. Intelius reports cannot be used for background checks related to consumer credit, insurance, employment, housing or any other purpose prohibited under the FCRA. In her earlier stint with Essar, Priya has worked at Senior Management roles, initially with Essar Oil and then as Head International HR (Corporate HR). 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. Scrap prices were volatile and had to be purchased with precious foreign exchange. 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. The Late 1980s: Foray into core sector manufacturing. Priya Chakravarty is the Senior Director, HR, at Essar Capital. It is also a major regional employer with over 900 staff, an additional 800 on site contractors and a further 5,000 people employed indirectly through the extended value chain. Work on the refinery began in 1994, and by 1995, the necessary funding was in place. 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 began the process of refinancing one year in advance, in May 1998. 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.