INDIA's Essar Group plans to invest £4.3 billion ($5.79 billion) in low-carbon energy transition projects in the UK by 2035, the company said in a statement on Monday.
The investment will be made through Essar Energy Transition Fuels (EETF), a unit of Essar Group, which operates the 200,000-barrels-per-day Stanlow refinery.
The company said its £4.3 billion investment pipeline will support the UK's energy transition.
More than £1 billion of the planned investment is nearing a final investment decision to transform Stanlow into an energy transition hub.
"The £4.3-billion 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.
Essar is also expanding its retail network in the UK and aims to supply fuels to 800 new locations.
In addition, the company is exploring the construction of data centres near the Stanlow project.
(With inputs from Reuters)
