Vadinar-Trafigura Group said it has completed the sale of its 24.5% indirect minority stake in downstream energy and petrochemicals company Nayara Energy to Hara Capital, a wholly-owned subsidiary of Mareterra Group. In August 2017, Trafigura, in an investment consortium with UCP Investment Group, acquired a 49.13% equity interest stake in Nayara. Nayara operates the second largest single site refinery in Vadinar, India, and will be entering into the petrochemicals sector with a new 450,000-t/y polypropylene plant that is currently being built at Vadinar and expected to start up by the fourth quarter of 2023 (PCN, 30 Aug 2021, p 2).
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