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Trader invests in Indian refining project

Commodity trader Trafigura Pte. Ltd., Singapore, has agreed to invest as much as $130 million to earn an interest as high as 24% in the 120,000 b/d Cuddalore refinery under construction by Nagarjuna Oil Corp. Ltd. in Tamil Nadu, India (OGJ, Dec. 6, 2010, p. 50).

Trafigura said commercial operations are to begin during the first half of 2013.

Downstream units of the refinery, 180 km south of Chennai on the Bay of Bengal, will include a fluid catalytic cracker and delayed coker.

Other investors in the project are Nagarjuna Fertilizers & Chemicals Ltd., Tata Petrodyne, Uhde GMBH, TIDCO, and CPCPL.


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