Mangalore Port officials have allocated three acres of land to Aegis Group to construct a storage terminal in southern India.
The land is allotted to the oil, gas and chemical logistics company for a period of 30 years by New Mangalore Port Trust.
With the land allocation, Aegis Logistics will further expand its presence to six ports of India – Mumbai, Pipavav, Kandla, Kochi, Haldia and New Mangalore. Together, these ports manage 70% of POL traffic handled by the major ports in India.
New Mangalore port ranks third in terms of POL traffic handled among major ports of India. In the 2015 financial year, New Mangalore port catered 12% of POL traffic handled by major ports.
Managing director and CEO of Aegis Group Anish Chandaria says: ‘Aegis Group is continuing with its strategy of building a necklace of terminals along the Indian coastline.
‘With the addition of Mangalore port, Aegis Group has entered another major port in India taking its presence to six ports. The land allotment at Mangalore fits well with its strategy to add more terminals to our portfolio, offering its customers logistics services throughout India at every gateway into and out of India.’
The company operates a network of bulk liquid terminals, LPG terminals, filling plants, pipelines, and gas stations.