Trafigura Pvt. Ltd. picked up 24 percent equity in Nagarjuna Oil Corporation Ltd (NOCL) by investing around 650 crore rupees. Trafigura is a commodity trader in the global sphere.
NOCL is carrying out six million tone oil refinery project at Cuddalore in Tamil Nadu. The total estimate of the project is 7610 crore rupees.
Trafigura has also planned to invest 600 crore rupees into the construction of storage facilities. This will be done through another joint venture between Trafigura and NOCL called Portoil Ltd.
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