Aegis Logistics Subsidiary Approves Acquisition of Specialised Storage Terminals at Mangalore, Resulting in Capacity Addition

Aegis Logistics Ltd. has announced that its subsidiary, Aegis Vopak Terminals Limited, has approved the acquisition of specialised storage terminals at Mangalore. This acquisition is expected to result in a capacity addition, with approximately 44,168 KL (approx.) expected to become operational immediately, and an additional 41,000 KL anticipated to come on stream by the end of FY25. The investment for this project will amount to up to Rs. 125 Crores, with financing to come from internal accruals. The rationale behind this addition is to cater to the growing demand for specialized storage terminals with heating arrangements up to 230 deg C in Aegis Logistics' liquid division.