Essar Energy Transition Completes US$130mn Turnaround, Plans US$350mn Annual Improvements at Stanlow Refinery
- US$130mn investment increased Stanlow's capacity by 8%.
- US$100mn spent on UK's first hydrogen-ready furnace.
- Business Improvement Plan aims for US$350mn in gains over two years.
- Debt reduction of US$600mn planned for 2025.
Turnaround Investment
Essar Energy Transition has completed a US$130mn turnaround at the Stanlow Refinery, enhancing plant throughput and increasing capacity by approximately 8%. This investment focuses on performance engineering and technological improvements to boost reliability, energy efficiency, and margins.
Hydrogen-Ready Furnace
A significant milestone in the turnaround is the installation of the UK's first hydrogen-ready furnace, costing US$100mn. This development is crucial for EET Fuels' strategy to transition to low-carbon operations and aims to position Stanlow as a leading decarbonised refinery globally.
Business Improvement Plan
The company has launched a Business Improvement Plan targeting US$350mn in improvements over the next two years. This includes US$250mn from plant optimisation and operational excellence, and US$100mn from cost reductions through enhanced efficiencies.
Deleveraging Strategy
To support its decarbonisation investments, EET Fuels plans to reduce its debt by US$600mn within the current year. This deleveraging strategy is intended to improve financial performance and strengthen the company's balance sheet, ensuring long-term sustainability.
Source: EET Fuels