Mercuria and India's Tata will form a commodities trading venture

The global commodities trading house Mercuria is forming a joint-venture with Tata International to expand their presence in India and help the conglomerate trade a diverse basket of commodities.

Noel Tata said that the joint venture is well-positioned for a scalable and compliant trading platform.

Tata International supports the parent company, the multinational conglomerate?Tata Group, with trading and distribution. Tata Group, a multinational conglomerate, is involved in steel, motor vehicles, and aerospace amongst other industries. All of these require large amounts of natural resources such as metals and gases, which a commodity trading company like Mercuria can help supply.

Marco Dunand, Mercuria's chief executive officer, said that India?represents an attractive long-term trade opportunity. Mercuria, a Swiss-based company founded in 2004, initially focused on oil trading. In recent years it has expanded to include a global metals trading book. The joint venture is expected to become operational after receiving the necessary regulatory approvals.

(source: Reuters)