Essar group subsidiary, Stanlow Terminals Limited (STL), is to make a series of investments over the next three years to develop the UK’s largest biofuels storage hub located in the North West of England. The project will deliver 300,000 cubic metres of capacity at the Stanlow Manufacturing Complex and Tranmere Terminal, located within the Port of Liverpool, to allow customers to store, blend and distribute bio-fuels suitable for use as drop-in replacement transport fuels for road, aviation and marine.
Essar points out that the market for energy from renewable sources in the UK is expanding rapidly, driven by legislative obligations to encourage lower carbon fuels. These investments reflects the growing demand from partners and customers who are seeking storage facilities and expertise in future fuels handling, as businesses across the economy look to decarbonise and operate in a more sustainable way.
Prashant Ruia, Essar Non-executive Chairman, commented: “These key investments, and continued growth of our strategic relationships with customers, means Stanlow Terminals is firmly on track to becoming the largest sustainable storage and logistics hub in the UK. The Government has set out a clear plan for decarbonising the economy and we are committed to playing our part in helping to achieve that.”
Since acquiring Stanlow in 2011, Essar has invested $1 billion in margin improvement and other efficiency initiatives to ensure its refinery remains competitive in a rapidly changing market.