Trader invests in Indian refining project

April 13, 2012

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).

Bob Tippee

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.

About the Author

Bob Tippee | Editor

Bob Tippee has been chief editor of Oil & Gas Journal since January 1999 and a member of the Journal staff since October 1977. Before joining the magazine, he worked as a reporter at the Tulsa World and served for four years as an officer in the US Air Force. A native of St. Louis, he holds a degree in journalism from the University of Tulsa.