Haldia Petrochemicals Ltd, the flagship company of NRI businessman Purnendu Chatterjee-led The Chatterjee Group (TCG), has acquired Coastal Oil & Gas Infra Ltd (COGIL) from the National Company Law Tribunal as the company looks to build a petrochemical complex in Tamil Nadu.
COGIL is a subsidiary of Nagarjuna Oil Corporation Ltd (NOCL), which was acquired by HPL through a liquidation process in 2021.
The principal asset of COGIL, registered in Visakhapatnam, Andhra Pradesh, is the leasehold right over 322 acres at Cuddalore, Tamil Nadu alongside the NOCL complex. Cuddalore is 175 kilometre to the south of Chennai.
