Around the mid-1980s, the Government also opened up the contract drilling business to Indian private companies. Tempe, AZ White Pages. 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. Bespoke sustainable solutions to suit logistics and supply chain requirements. Try LightSource for your strategic sourcing. Essars Indian lenders refused to bail the company out. Updated: 27 Jan 2022, 06:04 AM IST Subhash Narayan The UK's first low carbon hydrogen facility at Essar Stanlow will sit at the heart. Mr Viral Gathani is the Managing Director, Finance, Energy, at Essar Capital. Essar sponsors Indias largest annual junior soccer hunt challenger, Essar pledges to make substantial investment in the state of Odisha, www.essaroil.co.uk/news/uks-first-refinery-based-hydrogen-furnace-arrives-at-essar/, Essars ambition is to be a leading low carbon refinery, with a long-term transformation into a low carbon energy provider, Major driver of carbon reduction will be the construction of a 360 million CO2 Capture Plant, set to start in Q1 2025, with completion in 2027. School of Social Transformation. 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. . 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. Also, the financial sanctions imposed on India subsequent to the Pokhran nuclear test in May 1998 ensured that Essar was banned from raising FCCBs. 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). It vigorously worked towards restructuring its balance sheet, drawing up a three-pronged strategy to address . B.C. Intelius does not provide consumer reports and is not a consumer reporting agency as defined by the FCRA. Earlier on he has worked with TCS in the beginning of his career. Essar saw a great opportunity and bought Indias first private tanker in 1976 for around USD 2 million. Media contact. Managing Director, Finance, Metals & Mining. Eventually, the loan was sanctioned, with a repayment structure that was unique for its time. Worse was to follow. A general view of Essar Oil UK's Stanlow oil refinery near Ellesmere Port, Britain, September 27, 2021. He has held key leadership positions at Jindal Steel & Power Ltd, Jet Airways, Essar and Dell international. 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. Dhanpat Nahata is the General Partner, Strategy and Risk, at Essar Capital. Essar merged these circles into Hutchison Essar to create a telecom major. Ellesmere Port, Cheshire, Rahul Taneja is the Managing Director, Human Capital at Essar Capital. 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 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. Essar replaced Swiss PTT with Hutchison as partner. Dockers at Stanlow refinery in Cheshire have refused to unload a shipment of Russian oil. Were primed to lead the national charge in the development of changing energy infrastructure and create the UKs first sustainable energy hub. Contact Us. 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. 925.730.0150. The FRNs were due for refinancing in 1999, the year that marked the end of the five-year term. The promoters could foresee the demand, a vision that paid rich dividends. As Fulcrum's first facility in the United Kingdom, NorthPoint will be located at the Essar Stanlow Manufacturing Complex in Ellesmere Port, Cheshire. 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. Essar Oil UK said Stanlow was operating as normal during the current fuel crisis, and supplying fuel to north-west petrol stations as normal, as panic buying hits forecourts across the country. Mr Mehra is involved in various Essar initiatives in areas of Business Strategy, Investments, Corporate Governance, Risk Management and Sustainability. One of Essars strengths has been its ability to invest in businesses that have the potential for growth and its strategy to diversify as a hedge against cyclicality. With over 15 years of experience in diverse fields including media & publishing, corporate communications. We unlock trapped value for energy partners feeling shackled by a lack of innovation and the status quo by maximising our flexible, end-to-end, safe and agile approach to logistics solutions management. 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. Choose Additional Cities in Arizona by Selecting the First Letter of the City. It also enables the import of large parcels of diesel. and more than 70 percent of its shipping revenues came from international operations. In addition, in an honorary capacity, Adithya is currently the Senior Vice President at the India Chapter of Institute of Internal Auditors Inc, USA and President elect for 2021 22. Essar Capital Limited (Essar Capital) is the investment manager of Essar Global Fund Limited (EGFL). 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. He is responsible for capital raising, financial performance improvement, risk monitoring and corporate banking for Infrastructure. In this way, the share of value-added products increased from 35 percent to 70 percent of total production. 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. 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. Essar is investing to make our refinery at Stanlow, the UKs first low carbon refinery. He also has rich experience in leading change management, cultural transformation, organisational redesign and restructuring. Prior to joining Essar, he was the Vice President and General Counsel at Hindustan Construction Company Ltd. At Stanlow Terminals, we pride ourselves on being flexible to our customers' needs, with a market leading storage offering. 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). The experience in contract drilling prompted the Group to venture into the upstream in the Oil sectori.e. 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. This brought down the capital cost per tonne of steel, which helped reduce overall cost of production. He joined Burmah Shell in 1957, also known as Bharat Petroleum Corporation Ltd after it was nationalised, and retired from it as director marketing. Essar Constructions executed pipe laying contracts for all the major oil companies in India, and drinking water pipelines in Gujarat, Tamilnadu and Rajasthan. 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. Prior to joining Essar, he was associated with EY as a Partner for 11 years. 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. Vice Chairman & Operating Partner, Metals & Mining, Operating Parter, Infrastructure, MD & CEO, Essar Ports, Sr. Stanlow Terminals Limited Unite said it had informed the owner of the Ellesmere refinery, India's Essar Group, that its members . Tempe, Arizona white page directory listings include full name, phone number and address. He was chairman and chief executive of J&K Bank for five years. It that happened, the refinery would be likely to be taken on by the official receiver, to keep the refinery running. Copyright 2023 Essar. Since 2010, some of the pioneering investments were proactively monetised for an enterprise value of US$ 40 bn through large transactions with foreign and Indian entities. Managing Director, Finance, Infra, Tech & Retail, at Essar Capital. Essar Group is to invest $3.6bn developing low-carbon energy in the UK and India under the newly formed Essar Energy Transition (EET). The pipe laying division of the company was certified at ISO 9002. Essar Energy enters into agreement to buy Royal Dutch Shell's Stanlow refinery for US$350 million. In the second quarter, a devastating cyclone hit the western coast of India damaging several structures in the refinery site. 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. Left with no option, Essar was forced to default on the FRN loan, despite having made concrete plans for refinancing. Vertex Hydrogen is a joint venture between Essar Oil UK and Progressive Energy. Unlike other fuel technologies currently being considered by industry, the use of SAF does not require changes to aircraft, engines, or airport infrastructure. In 2005, when the vessel rates peaked, Essar sold its five Suezmax tankers at the price at which they were bought in 1994. Essar has invested in a portfolio of world-class companies across sectors and geographies. Stanlow, 15th February, 2021. Fulcrum is actively developing Fulcrum NorthPoint at the Essar Stanlow Manufacturing Complex in Cheshire, in the North West of England. He also ensures the successful delivery of the organisations corporate and business plans and desired outcomes. Our ambition is to become a leading low carbon refinery. With over 27 years of work experience in diverse industries ranging from Manufacturing (Metals, Mining & Power Generation) to Services sectors (Commercial Airline and Technology, inclusive of Business Process Outsourcing sectors), he provides strategic direction to the management of the Mesabi Portfolio. Earlier this year, it announced its participation in production of blue hydrogen under the HyNet project. 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). Name Address Address(maps) LinkedIn Alibaba AliExpress Global Sources Want to send an RFI or RFQ to this supplier? In those early days of the telecom boom in India, effective policies were lacking and private telecom businesses were faced with several problems. 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. These include the construction of two new low carbon hydrogen production units on site as part of HyNet, with a planned total investment of 1 billon. This has improved the quality of the ore and reduced the transportation cost. 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. EOUK had agreed to an accelerated schedule to make this payment. firstname.lastname@example.org and 07805 854169, Jeff Ovens, Managing Director, UK & Europe, email@example.com and 07399 472 650. Strategic investments in setting up world-class facilities in Steel, Power, Ports, Oil and Gas. Sr. Along with brother Ravi, Shashi Ruia laid the foundation of Essar and spearheaded its business strategy, diversification and growth. Essar Oil UK Contact us Contact us How can we help you? He is respected for his project execution skills, financial expertise and people management capabilities. The joint venture company then went about consolidating operations and acquiring various telecom circles. It also complements the announcement last month regarding a blue hydrogen development at Stanlow as part of the HyNet project. The refinery plays a strategic role in the UK economy, supplying 16% of all road transport fuels. Essar did not succumb to the pressure. His entrepreneurial abilities have enabled the Essar Global portfolio of companies to become one of the leading names in global industry. 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. An oil giant has announced plans to invest 1.9bn in Stanlow oil refinery in Cheshire, including establishing a plant to supply industrial hydrogen. 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. The hydrogen will be used to help decarbonise Essars existing production facilities including the new hydrogen powered furnace which was delivered in August this year. Last month Essar Oil UK announced its participation in the production of blue hydrogen under the HyNet project. Suite 220 He is responsible for capital raising, financial performance improvement, risk monitoring and corporate banking. Both these factors led to a stoppage of work at the refinery, The Mid-2000s: Resurrecting the Essar Oil Refinery. He has over 25 years of work experience in the field of M&A and Transactions. After achieving success and recognition in India, the Company was now poised to venture overseas. Rewants global exposure, fresh perspectives and arc of activities has contributed to Essars strategy and operations in the mining, steel and retail sectors both in India and abroad. 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. Having started his career with HPCL, he worked with National Oil Nigeria, Reliance Industries Ltd., TotalFinaELF and Gulf Oil India. Email address: SSTAdvising@asu.edu / SSTGradAdvising@asu.edu Phone: 480-965-7682 Location: Advising offices are located in 777 Novus, Suite . Many steel companies at that time went down under. Essar JV to build UK's largest hydrogen hub 2 min read . Being one of the low-cost steel producers, Essar managed to make operating profits. Correspondence address The Administration Building, 5th Floor, Stanlow Manufacturing Complex, Ellesmere Port, Cheshire, CH65 4HB . Andrew Wright is the Managing Director, Legal, at Essar Capital. 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 is on the Boards of World Steel Association, and the Metals & Mining and Energy industry Committee of the World Economic Forum. 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. Essar then acquired licenses for Eastern UP, Rajasthan, Haryana and Punjab. Mr Naushad Ansari is Managing Director, Business Development, at Essar Capital. Run a search by name for anyone in Tempe, Arizona & get free white pages information instantly. Thus Essar was able to build one of the most valuable telecom companies in the world. Work on the refinery was progressing as per schedule till the first quarter of 1998. The company approached State Bank of India (SBI), a leading public sector bank in India, for a loan. Managing Director, Finance, Infrastructure, Technology & Retail, Managing Director, Business Development, Metals & Mining, Download Corporate Film(Extended Version). 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. All companies under the TTP have been given until January 2022 to meet their commitments. The construction and shipping businesses grew rapidly and Essar gradually established itself as a leading marine and industrial construction company. Essar wanted to buy out Hutchisons stake and tied up a line of credit of over USD 11 billion. All these activities were consolidated under Essar Shipping and Logistics Limited. Stanlow contributes an estimated 60 million each year to the local economy and will house the UK's first low carbon hydrogen facility.