Essar Group to sell UK refinery

Essar Group plans to sell the Stanlow refinery in Britain for $600 mn. The company is seeking to raise $500 mn -$600 mn for the plant in the northwest of England. However other plants recently put up for sale in the UK viz, Murco's Milford Haven and the Bankrupt Petroplus's Coryton, have failed to find buyers. The refinery was earlier bought by Essar Group's subsidiary, Essar Energy for $350 mn from Shell. Contact: Essar Group. Tel: 022- 6660 1100. Fax: 022-6660 1809.