Aegis Vopak Terminals Ltd to acquire specialised storage terminals at Mangalore

The Board of directors of Aegis Vopak Terminals Limited, subsidiary of Aegis Logistics Ltd, has approved the acquisition of the specialised storage terminals at Mangalore, thereby resulting in capacity addition at its facilities at Mangalore.

The existing capacity of 76,000 KL is running at a capacity utilization of 100% and the proposed capacity addition is 44,168 KL (approx.) by acquisition and 41,000 KL (approx.) under construction.

The project will entail an investment of up to Rs. 75 Crores for acquired capacity and up to Rs.50 crores for additional capacity under construction will be financed through internal accruals.

The acquired capacity will be operative immediately and additional capacity under construction is expected to come on stream in a phased manner by the end of FY25.

The addition of specialised storage capacity with strategic location at Mangalore Port to cater to the growing demand of specialized storage terminals with heating arrangements up to 230 deg C in our liquid division.

Shares of Aegis Logistics Limited was last trading in BSE at Rs. 396.45 as compared to the previous close of Rs. 381.30. The total number of shares traded during the day was 68148 in over 1991 trades.

The stock hit an intraday high of Rs. 399.45 and intraday low of 384.00. The net turnover during the day was Rs. 26788931.00.

Source : Equity Bulls

Keywords

AegisLogistics INE208C01025 AegisVopakTerminals SpecialisedStorageTerminals Mangalore