India's Essar Group plans $5.8 B energy transition investment in UK
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.
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Essar Energy Transition Fuels (EETF), a unit of Essar Group, operates a 200,000-barrels-per-day Stanlow refinery.
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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.
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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.
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Essar is expanding its retail network in the UK and aims to supply 800 new locations with its fuels.
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Essar is also exploring building data centers near the Stanlow project.
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