Aegis gets 5-acre land to develop new port at Kandla

Land given on 30-year lease, proposed new port to be Aegis' fifth

Oil, gas and chemical logistics company Aegis Group today said it has been alloted land at Kandla Port to build a major new port terminal.

The five-acre land has been allotted on lease for a period of 30 years by Kandla Port Trust, Aegis Group said in a regulatory filing.

"Aegis Group is continuing its strategy of building a necklace of port terminals around India's coast line. Once constructed, this will represent Aegis's terminal at a fifth port," company's Managing Director and CEO Anish Chandaria said.

"We continue to add more terminals to our portfolio so that we can offer our customers logistics services throughout India at every gateway into and out of India. Kandla will add to our strength in Gujarat along with our large Pipavav Port terminal," he added.

Aegis Logistics has five distinct but related business segments and operates a network of bulk liquid terminals, liquefied petroleum gas terminals, filling plants, pipelines, and gas stations to deliver products and services.

The company's shares fell 5.2 per cent at Rs 697 apiece during afternoon session on the BSE.