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Terminal Takeover—Aegis-Vopak JV Gains Firepower with Mangalore LPG Addition

Updated: July 10, 2025 19:04

Image Source: IPO Central
In a major infrastructure reshuffle, Aegis Logistics Ltd has announced the transfer of its 82,000 MT cryogenic LPG terminal at New Mangalore Port to its joint venture entity, Aegis Vopak Terminals Ltd (AVTL), for a total consideration of ₹671.3 crore (₹4.28 billion). The move is part of a broader strategy to consolidate LPG assets under the AVTL platform, enhancing operational efficiency and capital deployment.
 
Transaction Snapshot
  • Seller: Sea Lord Containers Ltd (SCL), wholly owned subsidiary of Aegis Logistics
  • Buyer: Aegis Vopak Terminals Ltd (AVTL), JV between Aegis Logistics and Royal Vopak
  • Asset: Cryogenic LPG terminal with 82,000 MT static storage capacity
  • Location: New Mangalore Port
  • Transfer Mode: Slump sale on a going concern basis
  • Deal Value: ₹671.3 crore
  • Effective Date: June 19, 2025
Strategic Rationale
  • The transfer aligns with Aegis Group’s goal to streamline LPG infrastructure under AVTL, which now operates 20 terminals across 6 key Indian ports.
  • AVTL is emerging as one of India’s largest independent tank storage companies for LPG and chemicals, with a combined capacity of 1.7 million cbm for liquids and 201,000 MT for LPG2.
  • The move supports India’s clean energy roadmap and positions AVTL to better serve domestic and export markets.
Management Insight
“This asset realignment strengthens AVTL’s portfolio and enables more focused capital investment for future expansion,” said a company spokesperson.
 
Market Reaction
Shares of Aegis Logistics traded marginally lower at ₹800.25 following the announcement, reflecting investor caution amid the strategic shift.
 
Sources: Business Standard, HDFC Sky, MoneyWorks4Me, Aegis Vopak, Aegis Logistics

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