NEW DELHI, Aug 3 (Reuters) – India’s Essar Group plans to invest 4.3 billion pounds ($5.79 billion) to build low-carbon energy transition projects in the UK by 2035, it said in a statement on Monday.
• Essar Energy Transition Fuels (EETF), a unit of Essar Group, operates a 200,000-barrels-per-day Stanlow refinery.
• The 4.3-billion-pound investment pipeline will support the UK’s energy transition, “generating massive long-term economic value, and creating thousands of highly skilled jobs,” said Prashant Ruia, Chairman of EETF.
• Of the planned investment, more than 1 billion pounds are nearing final investment decision to transform Stanlow into a leading energy transition hub, the statement said.
• Essar is expanding its retail network in the UK and aims to supply 800 new locations with its fuels.
• Essar is also exploring building data centres near the Stanlow project.
($1 = 0.7429 pounds)
(Reporting by Nidhi Verma; Editing by Janane Venkatraman)
