In a statement released on Monday, Essar Group announced its intention to invest £5.79 billion (4.3 billion pounds) to construct low-carbon energy transition projects in the United Kingdom by the year 2035.
A Stanlow refinery with a daily capacity of 200,000 barrels is run by Essar Energy Transition Fuels (EETF), a division of Essar Group.
“Generating massive long-term economic value, and creating thousands of highly skilled jobs,” stated Prashant Ruia, Chairman of EETF, of the 4.3 billion pound investment pipeline that will assist the UK’s energy transition.
According to the statement, more than 1 billion pounds are on the verge of being invested in order to turn Stanlow into a prominent hub for energy transformation. With the aim of supplying its fuels to 800 additional places, Essar is broadening its retail network in the UK.
Near the Stanlow project, Essar is also considering constructing data centers.
Image: OB
