Aegis to pump in Rs 200 crore for 3 import terminals

Written by Jaishankar Jayaramiah | Bangalore | Updated: Jan 28 2010, 04:32am hrs
Mumbai-based Aegis Logistics Ltd, a leading player in oil, gas & chemical logistics and auto LPG retail business, will set up three new import terminals at different shipping ports across the coastal region in the country to handle petroleum, oil and lubricants for its customers including Reliance, a top official of the company said. Aegis is expected to invest around Rs 180- 200 crore to set up the terminals.

On an average, each import terminal, with a capacity to handle petroleum and chemicals, would cost around Rs 60 crore, said Anish Chandaria, managing director and chief executive officer of Aegis.

Of the proposed three terminals, one will come up at Haldia Port in West Bengal where the Calcutta Port Trust has allotted land, he said. For the remaining two, we are in talks with various ports, he said without disclosing further details about the locations.

However, according to market sources, Aegis is looking to set up import terminals in Mangalore and Chennai ports as the company is in shortage for import terminals on the east cost.

Aegis, at present, is operating two import terminals in Mumbai and Cochin to handle petroleum and chemicals. In Mumbai, the company has a capacity of 2,72,000 kl for products like A,B and C class chemicals, petroleum products and liquefied gases. In Kochi, its capacity stands at 51,000 kl. The company's customers include Reliance and government-owned oil market companies Bharat Petroleum and Hindustan Petroleum.

Apart from these, Aegis owns and operates a 20,000-mt refrigerated gas terminal in Mumbai. The company, through this centre, has been importing, marketing and distributing about 3.5 lakh mt of bulk LPG and propane annually to its customers in the western region.