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Essar to Invest $5.8 Billion in UK Low Carbon Energy Transition Projects by 2035

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Indian conglomerate Essar Group on Monday said it intends to invest 4.3 billion British pounds ($5.78 billion) to develop low carbon energy transition projects in the UK by 2035.

Essar has owned the Stanlow Manufacturing Complex in the UK via its wholly owned division Essar Energy Transition Fuels since 2011 and says it intends to transform it into a world-leading energy transition hub.

Since owning the facility, Essar has invested 1 billion pounds in upgrades. The enhancements include reconfiguration to a single-train operation to increase output of higher-value products and increase the range of crude grades processed. There has also been an upgrade of the catalytic cracker, the statement said.

The company increased throughput at the refinery by about 8% during a recently-completed turnaround at a cost of 100 million pounds.

The company invested a further 70.9 million pounds to commission the UK's first hydrogen-ready refinery furnace as part of the facility's transition to lower-carbon operations, the statement said.

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