S. Thangapandian, Chief Executive Officer of Essar Oil UK, takes time out for ‘India Global Business’ to explain why the company is investing heavily in its Stanlow Refinery in Britain and the story behind turning a loss-making unit into a promising asset.
What are the company's investment plans for the UK?
Essar Oil (UK) Ltd, which owns and operates the Stanlow Refinery, will be investing further $250 million in the refinery. We have already invested over $800 million to turn around the business since we acquired the Stanlow refinery. This reaffirms the group’s commitments to stay invested in core sectors. These investments will ramp up the throughput from 68 million bpd to 75 million bpd.
Investment will also deliver enhanced yields of high value products, reduce crude costs and drive revenue growth.
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