ITOCHU Corporation has acquired a stake in Aegis Terminal (Pipavav) Limited (ATPL) from Aegis Vopak Terminals Limited (AVTL), investing in the ammonia storage terminal business at Port Pipavav, Gujarat.
The investment follows the transfer of the terminal to ATPL by Aegis Logistics for ₹5.25 billion (₹525 crore) on August 24. The newly built facility, operationally ready since August 10, has an ammonia storage capacity of around 36,000 MT (52,000 cubic metres) and is described as India’s first independent ammonia storage terminal.
The facility includes cargo handling infrastructure, pipelines and truck loading and unloading facilities. ITOCHU said the investment will strengthen India’s ammonia logistics infrastructure and support future green energy applications, including ammonia as a fuel and hydrogen carrier.
The business will combine ITOCHU’s global ammonia trading network with the terminal operating capabilities of the Aegis and Vopak groups, while leveraging ITOCHU’s existing relationships with fertiliser and chemical manufacturers in India.