Aegis Logistics to build 51,998 MT propane tank for subsidiary

Aegis Logistics Limited has entered into a Framework Agreement with its subsidiary, Aegis Vopak Terminals Limited (AVTL), for the construction and development of a new refrigerated storage tank for propane. The tank will have a capacity of 51,998 MT and will be located at the Jawaharlal Nehru Port Authority (JNPA) tank farm area. Aegis Logistics will receive ₹142.50 crore upon execution of the agreement. The agreement includes significant terms such as the right to appoint directors and first right to share subscription. The transaction is considered an arm's length transaction between the parent and its subsidiary.