Aegis Logistics, through its 100 percent subsidiary, has signed definitive agreements to acquire assets pertaining to liquid tank terminals with capacity of around 500,000 KL at Kandla port from Friends Group for a total outlay of Rs 265 crore. The transaction will be funded through a combination of internal accruals and debt.
This acquisition fits well with the strategy of a ‘necklace of terminals’ which the company has been executing since 2010. This transaction will strengthen the company’s presence in six major ports across the country which handles 75 percent of the total liquids traffic in India (for period April-January 2022). Furthermore, it will augment Aegis’s presence in liquid terminal business at Kandla port which handles the highest Liquids and POL traffic in India.
The completion of this transaction is subject to customary closing conditions and necessary approvals from the port and statutory authorities and is expected to close by June 2022.
Aegis is India’s leading oil, gas and chemical logistics company. The company has five distinct but related business segments, and operates a network of bulk liquid terminals, liquefied petroleum gas (LPG) terminals, filling plants, pipelines, and gas stations to deliver products and services.
For more information visit www.aegisindia.com
