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.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. Over the last five years, EGFL has rebalanced its portfolio by strategically monetising some of the world class assets and businesses built by Essar, which has an entrepreneurial track record of 50 years. 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. 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.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. EGFL has a globally benchmarked robust risk and regulatory framework. All of its portfolio companies share the Fund’s ESG centric value system, reflecting the philosophy of placing people before profit
Essar Oil (UK) is committed to playing a key role in the decarbonisation of the UK economy, with ambitious plans to build an energy transition cluster in the North West of England.Essar is transforming for tomorrow, and through Essar Oil (UK), is leading this change in the UK by developing projects in refinery decarbonisation, biofuels, and new energies logistics to help deliver the UK’s energy transition ambitions.The company 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. The company is developing this location to create a strategic energy transition park.The company is a key strategic national asset, annually producing over 16% of the UK’s road transport fuels, while playing an important part in Britain’s petrochemical industry. It produces 3.5 billion litres of petrol, 4.9 billion litres of diesel and 2.3 billion litres of jet fuel per year.
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 and Liverpool airports, leading commercial airlines and the region’s trains and buses, Essar Oil (UK) is a market leader.Essar has invested over $1 billion since acquiring Stanlow in 2011, when it became the first Indian company to buy and operate a UK-based refinery. The major improvement initiatives delivered under Essar ownership has turned the company around and built a highly profitable and sustainable business, which has posted EBITDA of over $300 million for each of the past four pre-pandemic years.Essar has an entrepreneurial approach, driven by the innovation and dedication of its workforce across all its business streams and supported by significant capital investment to further grow and develop the business. Essar Oil (UK) is committed to becoming the UK’s first low carbon refinery, investing $1 billion over the next five years to support the development of the UK hydrogen economy and to decarbonise its operation. The company will half its emissions by 2030 and eliminate them by 2040.
This ongoing commitment to the UK’s energy sector was underlined in 2018 with the delivery of the largest ever maintenance and re-lifing turnaround to further improve reliability and safety, together with the completion of a major optimisation project to increase throughput (from 68 to 75 million barrels per year) and the production of high value products.In 2019, the company acquired a number of assets from the multi-national BP, ensuring greater control over product evacuation and logistics infrastructure, helping to further expand our supply envelope in a very competitive UK Midlands region and underpin growth ambitions in the UK. These included
· Equity stake of 11.5 percent in the UKOP pipeline,
· 45% stake in a contractual joint venture with Shell, which runs the Kingsbury Terminal, and
· 100% interest in the Northampton Terminal
Essar Oil (UK) is a major regional employer, with over 800 employees, a similar number of contractors on site and a further 5,000 people employed through the extended supply chain. It contributes an estimated £60 million each year to the local economy.Over recent years, Essar has strategically broadened its downstream integration, with a highly successful and award-winning entry into the UK fuel retail market. With 70 Essar-branded UK retail sites already operational across England and Wales, we plan to grow this network to 400 retail sites over the next five years.The company is a significant player in the wholesale supply of Jet A-1 to major UK airports and has successfully entered the market for direct supply of aviation fuel, signing agreements with a number of leading international airlines. This sector of the business continues to grow.Over the coming decade, the Board is determined to transform the business to ensure its long term sustainability, and this includes detailed planning to increase the production of bio-products, jet and petrochemicals, while using transformative technologies to make innovative use of excess gasoline molecules.This will be supported by continuing investment in people, processes and infrastructure to further improve our safety and environmental performance.
The company launched Vertex Hydrogen in January 2022. Vertex is a joint venture between Essar Oil (UK) and Progressive Energy and sits at the heart of HyNet, the UK’s leading industrial decarbonisation cluster.Vertex plans to construct two new low carbon hydrogen production units with a planned total investment of £1 billon to deliver the hydrogen production hubs. Follow on capacity growth is planned to reach 80% of the UK Government’s new target of 5GW of low carbon hydrogen for power, transport, industry and homes by 2030.Hydrogen from Vertex will be used to decarbonise Essar Oil (UK)’s production processes, along with lowering the emissions of other neighbouring business
About Recruitment:-
With a view to build word-class, mega scale complex Hydrocarbon Projects in Africa region, Essar Projects is looking for seasoned Execution specialists, Commissioning Heads & In-charges for various units.
Interested candidates, including recently retired personnel from reputed companies, may send their CVs to hr@essarconstructions.co.in mentioning application for Hydrocarbon Projects in the subject line.
Apply Now:- Please Send Your Updated Resume To elulhr@essar.com With Cover Letter- Cover Letter Link