Essar Energy transition fuels secures $650 mn in financing

04 Oct 2024 CW Team

Essar Energy Transition (EET) Fuels, the owner of the Stanlow refinery, announced on Thursday that it has successfully secured $650 million in receivable financing and trade credit financing facilities this quarter.

According to the official press release, the new funding includes a $150 million receivable facility with ABN AMRO Bank, an extension and increase of the HCOB and UMTB facility to $200 million for receivable financing, and a $300 million trade credit financing agreement with an international oil company.

These facilities are designed to enhance EET Fuels’ strategic and financing partnerships, particularly with major European banks and established trading partners. The funding will also support the development of customer offerings and bolster relationships and sales volumes, further strengthening EET Fuels’ balance sheet.

“This is a fantastic outcome for EET Fuels. With the backing of significant financing partners for our decarbonization strategy, we can continue to invest in and grow our business with confidence,” stated Satish Vasooja, CFO of EET Fuels.

Tarun Naruka, head of corporate and structured finance at EET Fuels, added that these new facilities will enhance the company’s financial flexibility and strengthen its balance sheet.

The press release also highlighted that EET Fuels is setting a new global standard for industrial decarbonization, aiming to become the first low-carbon process refinery and planning to reduce emissions by 95% by the end of the decade.

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..