Aegis Logistics and Royal Vopak (Netherlands) to form a major joint venture by Mr. Yash Gupta, Angel Broking Ltd
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Below are Quote on Aegis Logistics and Royal Vopak (Netherlands) to form a major joint venture by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Aegis Logistics and Royal Vopak (Netherlands) to form a major joint venture for LPG and chemical terminals in India.
Aegis logistics limited announced that the company has entered into an agreement with Vopak to join forces in India with the aim to grow together in the LPG, chemicals storage and handling business. The new partnership, Aegis Vopak Terminals Ltd (AVTL), will operate a network of terminals that are currently located in five strategic ports along the east and west coast of India. With a total capacity of around 960,000 m3, the partnership will become one of the largest independent tank storage companies for LPG and chemicals in India. LPG is earmarked by the Indian government to provide cleaner and safe cooking fuels for households. Aegis will receive total gross pre-tax cash proceeds from the sale of up to ₹2,766 crores.
This joint venture will help Aegis logistics to accelerate the growth in terminal business in the near future, We expect that this JV will be a key growth driver for the next 2-3 years for the company. We have a positive outlook for Aegis Logistics.
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