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Essar Energy, which owns the Stanlow. 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 companies and supermarkets, Manchester Airport, leading commercial airlines and the regions trains and buses. The steel generation capacity at the Hazira plant was raised from 2 MTPA to 2.4 MTPA through de-bottlenecking. He brings with him 39 years of experience, and has extensive experience in the renewable energy sector. Essar Capital is governed by its board of directors and its responsibilities as investment manager of EGFL include: Essar House, 11 KK Marg, Mahalaxmi, Mumbai 400 034, India. Simultaneously, global steel prices started tumbling and reached a historic low of USD 180 per tonne. Managing Director, Finance, Infrastructure, Technology & Retail, Managing Director, Business Development, Metals & Mining, Download Corporate Film(Extended Version). 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. As the world comes together to develop innovative ways of generating sustainable energy the supporting storage and transportation infrastructure needs to evolve. After achieving success and recognition in India, the Company was now poised to venture overseas. Within 18 months after work resumed, Essar began commissioning the refinery in phases. Physical location: 777 Novus, Suite 310AA, Tempe, AZ 85287-4308 Building: Novus Tower, Tempe Campus Mailing address: P.O. As Fulcrum's first facility in the United Kingdom, NorthPoint will be located at the Essar Stanlow Manufacturing Complex in Ellesmere Port, Cheshire. Rahul Taneja is the Managing Director, Human Capital at Essar Capital. 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. Stanlow. Tripathi is the Vice Chairman, Exploration & Production at Essar Capital, and has over 36 years of experience across Operation & Maintenance of Pipelines, Project Management, Contracts Management, Customer Relationship Management, Marketing etc. Being one of the low-cost steel producers, Essar managed to make operating profits. Essar followed up this success, by setting up a pellet plant in Visakhapatnam as part of its backward integration strategy. All Rights Reserved. Thus Essar was able to build one of the most valuable telecom companies in the world. Essar began the process of refinancing one year in advance, in May 1998. Sale to Brookfield Asset Management Company, 10 MTPA integrated steel manufacturing complex. 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. India in those days had secondary steel makers who used imported scrap to produce steel. Contact ; Transforming Logistics; New Offerings; Ports & Terminals. All its Suezmax tankers were approved by oil majors, an endorsement that fetches a premium in freight. Fulcrum is currently commissioning the world's first commercial waste-to-transportation fuels plant, located in the United States. All companies under the TTP have been given until January 2022 to meet their commitments. He plays a key role in managing strategic functions of EGFL. At that price, steel plant operations were simply unsustainable. 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. 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. 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. 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. Top-lines crashed, while interest rates were at their highest ever (Prime Lending Rates had touched 17 percent). All these measures have made Essar Steel, the largest integrated steel producer on Indias west coast and one of the largest producers of flat steel in the country. 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. In 1999, the government announced a new telecom policy that was more conducive to growth. The pipe laying division of the company was certified at ISO 9002. Production started in November 2006 with a capacity of 7.5 MTPA. The project, which will see an investment of approximately 600m, will use Fulcrum's proven waste-to-fuel process, which is already being deployed at its pioneering facility outside of Reno, Nevada in the United States, where operations are due to begin later this year. He is respected for his project execution skills, financial expertise and people management capabilities. Kailash Daultani currently serves as the Managing Director, Treasury and Finance, at Essar Capital. 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. Mr Mehra is involved in various Essar initiatives in areas of Business Strategy, Investments, Corporate Governance, Risk Management and Sustainability. In order to lend stability to the Group, Essar planned to enter manufacturing. Scrap prices were volatile and had to be purchased with precious foreign exchange. 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. The joint venture company then went about consolidating operations and acquiring various telecom circles. 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. 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. 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. A qualified chartered accountant, Kailash joined Essar in 2003 after working with Chaturvedi & Shah and Dewani & Co. Adithya Bhat, with over 27 years of experience in Governance, Risk and Compliance (GRC), is the Chief Risk Officer at Essar Capital. The Fulcrum venture will complement Essar's wider plans to build a green energy industrial cluster at the Stanlow site. 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. With over 32 years of work experience in the technological sector, Alok leads all new capital investment recommendations to the companys board. Essar owned 33% stake in the consolidated entity. Currently, he heads the country operations of Afrocentric Group in Mauritius and is the Managing Director of Medscheme International. With more than 50 years of experience, he guides Essar through transformations, manages operating functions and leads complex projects. He has held key leadership positions at Jindal Steel & Power Ltd, Jet Airways, Essar and Dell international. This is equivalent to the domestic heating energy used by a major British city region, such as Liverpool. . He is a strong business development professional with a Mechanical Engineering Degree from Aligarh Muslim University. Srinivasan Vaidyanathan is the Operating Partner, Technology & Retail, at Essar Capital. Rajiv Agarwal is the Operating Partner, Infrastructure, at Essar Capital and Managing Director, Essar Ports.He has over 30 years of experience and has held leadership positions in sectors such as Ports, Shipping, Telecom, Retail and Business Processing Outsourcing. The returns from the transition will not only outperform benchmark returns but also contribute to a sustainable society within the framework of Environmental, Social and Governance (ESG) and transform sectors for a post carbon economy. Alok Gupta is the Operating Partner, Technology & Retail, at Essar Capital. It involved buying an asset against the securitisation of receivables. He was chairman and chief executive of J&K Bank for five years. The challenge was to select a sector that was an import substitute, with a product that had long-term demand and served a national purpose. Try LightSource for your strategic sourcing. Copyright 2023 Essar. Essar has invested in a portfolio of world-class companies across sectors and geographies. It also complements the announcement last month regarding a blue hydrogen development at Stanlow as part of the HyNet project. Mr Sogani helps manage Essar Capital investments in the portfolio companies of metals & mining sector. Such emission reductions are approximately 70% and have the future potential to be fully carbon neutral. Mr Viral Gathani is the Managing Director, Finance, Energy, at Essar Capital. If you would like a quote for delivery . Essar Constructions grew its activities considerably over the years. The takeover of SCGL has enabled Essar to widen its product base and cater to a larger segment of industries. 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 Oil UK is committed to helping drive the UK's decarbonisation strategy. 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. Regular ferry services connect Stanlow from Liverpool and Holyhead to Ireland, Isle of Man, Northern Ireland and northern Spain. Name Address Address(maps) LinkedIn Alibaba AliExpress Global Sources Want to send an RFI or RFQ to this supplier? Sunil is also the President of Wind Independent Power Producers Association. By 2030, Vertex expects to deliver nearly 4GW of low carbon hydrogen, equivalent to c.40% of the UK Governments national target. Work on the refinery began in 1994, and by 1995, the necessary funding was in place. Essar replaced Swiss PTT with Hutchison as partner. In addition, Fulcrum NorthPoint was awarded a grant by the UK Government Department for Transport. And in February, Essar announced it has joined forces with Fulcrum BioEnergy and Essar's subsidiary company Stanlow Terminals to create a new 600m facility which will convert non-recyclable. 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. Your price for Delivered in supplies will be subject to delivery costs. 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. Essar Steel was now a producer of flat steel and joined the select group of Indian companies that produced this commodity. Run a search by name for anyone in Tempe, Arizona & get free white pages information instantly. He has also advised boards and management on major transactions in 34 countries. Six business areas in the core sectorConstruction, Shipping, Steel, Power, Oil & Gas, and Telecommunicationswere identified as growth drivers for the Group. . Essar wanted to buy out Hutchisons stake and tied up a line of credit of over USD 11 billion. Anshuman Ruia is known for his financial expertise and project execution skills. This was not sufficient for the business to achieve and sustain long-term growth. EGFL has a globally benchmarked robust risk and regulatory framework. Essar Group on Monday announced a fresh investment of $3.6 billion in setting up an Essar Energy Transition (EET) to spearhead green energy transition projects in the UK and India. Rajiv was awarded the designation of Canadian Investment Manager by the Canadian Securities Institute in 2006. Essar Shipping diversified and modernised its fleet in the early 1990s. Essar Stanlow's top supplier is Refined Technologies with 17 shipments. He joined Burmah Shell in 1957, also known as Bharat Petroleum Corporation Ltd after it was nationalised, and retired from it as director marketing. 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. Essar merged these circles into Hutchison Essar to create a telecom major. 4900 Hopyard Road 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. It owned 11 land rigs, one offshore rig and a drill ship. Essar continues to be the largest Indian exporter of flat steel. exploration & productionand downstream, into refining. He has held key leadership positions at YES Bank Ltd. and ICICI Bank Ltd. In order to improve the efficiency, Essar Steel bought Stemcors 51 percent stake in HyGrade Pellets Limited, the pellet making venture of Essar. He has significant experience of managing strategic transactions, acquisitions and raising capital across industries including Financial Services, Information Technology and Manufacturing (Cement, Sugar, Refractories, Power, Renewable Energy, Steel & Healthcare). The Late 1980s: Foray into core sector manufacturing. Essar Oil UK bought the Stanlow refinery at Ellesmere Port from Shell in 2011. He started his career with Escorts Limited where he worked and grew through various roles of operations and business development. He established PetroFina in India and was part of the team that launched Gulf Oil in India post opening up of the market. 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). 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. At Stanlow Terminals, we pride ourselves on being flexible to our customers needs, with a market leading storage offering. Tempe, AZ White Pages. He was the Chief Executive Officer and Board Member at Essar Oil UK Limited. 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. Essar teamed up with Brown & Root of USA in laying an under-sea pipeline from the offshore Bassein gas field to Hazira. Hutchison Essars subscriber base, too, has risen from 1,50,000 to 28 million. 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. Tempe, Arizona white page directory listings include full name, phone number and address. He is a part of the Management Committee of Essar Capital. In 2005, when the vessel rates peaked, Essar sold its five Suezmax tankers at the price at which they were bought in 1994. Stanlow Terminals Limited 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. He has played an integral role in many landmark private equity transactions and has also managed many regional and global private equity funds. Essar Global Fund Limited (EGFL), set up in 2005, invests in building and nurturing assets, and creating value in the core sectors of Energy, Infrastructure & Logistics, Metals & Mining and Technology & Retail. In those early days of the telecom boom in India, effective policies were lacking and private telecom businesses were faced with several problems. Dockers at Stanlow refinery in Cheshire have refused to unload a shipment of Russian oil. Around this time, Bombay High had just started producing oil, which needed to be transported onshore. 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. Essar Energy enters into agreement to buy Royal Dutch Shell's Stanlow refinery for US$350 million. 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. Subsequently he took responsibility as President Global Markets & Strategy since 2012 where he was responsible for sales, pricing strategy, marketing, and product & category management for the Steel business. Legal Disclaimer and Terms and Conditions of Usage, This website uses cookies or similar technologies, to enhance your browsing experience and provide personalized recommendations. However, Essars chosen policy was to get into areas of import substitution, high technology and national importance. 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. It vigorously worked towards restructuring its balance sheet, drawing up a three-pronged strategy to address . 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 sponge iron plant became a hugely successful venture. 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. Essar also reentered the contract drilling services business after a hiatus of three years. For SBI, the proposal posed a real challenge since it involved a first-of-its-kind transaction for the bank as well! 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. Viral has held key leadership positions at Vedanta Resources Plc, CIMB Securities/ Royal Bank of Scotland, Warburg Pincus, Citigroup, and Credit Suisse. According to Essar, the Fulcrum NorthPoint venture will complement Essar's wider plans to build a green energy industrial cluster at the Stanlow site, and will fully integrate Essar, Stanlow Terminals, and Fulcrum assets and technology. Managing Director, Finance, Infra, Tech & Retail. Operating Parter, Infrastructure & MD & CEO, Essar Ports. The Manchester Ship Canal that connects Liverpool to Manchester also provides further hinterland water connection to North West UK. Essar did not succumb to the pressure. Realising the need to be a niche player in the global transportation industry, Essar drew up a plan to be a complete logistics solution provider.